NFAC Failed to Consider Submissions: ITAT Remands Matter to AO for Fresh Assessment

Sunil Jayantilal Sachdev Vs ITO (ITAT Hyderabad) In Sunil Jayantilal Sachdev Vs ITO (ITAT Hyderabad), the Income Tax Appellate Tribunal (ITAT) reviewed an appeal concerning the assessment year 2017-18. The assessee, an individual taxpayer, failed to file a return under section 139(1) of the Income Tax Act, 1961. The Assessing Officer (AO), upon discovering cash deposits made during the demonetization period in the assessee’s Axis Bank account, issued a notice under section 142(1) and directed the assessee to file a return. However, the assessee did not respond or appear before the AO, le...