Six Years of Reassessments Remanded for De-Novo Consideration

M S Thanigaive Vs ITO (ITAT Chennai) One Last Chance—With Cost: ITAT Sets Aside Ex-parte Reassessments, Remands 6 Years to AO for De-novo Orders The Chennai ITAT has condoned a delay of 284 days and set aside ex-parte reassessment orders u/s 147 r.w.s. 144 for AYs 2012-13 to 2017-18, granting the Assessee one final opportunity to contest the additions on merits. The Assessee, engaged in real estate & film production, had not filed returns for the impugned years and did not respond to reassessment notices. The AO consequently framed ex-parte orders, making additions towards unexplained ba...