Section 69A addition of Rs. 1.49 Cr: ITAT remands Case for Fresh Review

EFY Technologies Vs ITO (ITAT Jaipur) Income Tax Appellate Tribunal (ITAT) Jaipur has remanded the case of EFY Technologies against the Income Tax Officer for fresh adjudication. The appeal pertains to the assessment year 2017-18, where the Commissioner of Income Tax (Appeal) [CIT(A)] dismissed the appellant’s appeal under Section 250 of the Income Tax Act, citing non-compliance with Section 249(4)(b). The primary issue stemmed from an addition of Rs. 1,49,25,000 under Section 69A, as the assessee failed to file an income tax return and did not respond to assessment notices under Section 142...