ITAT addressed disallowance of exemption under s54B where ...

Tax Exemption Under Section 54B Restored After Email Notice Mix-up Between Taxpayer and Chartered Accountant

March 3, 2025

Case Laws     Income Tax     AT

ITAT addressed disallowance of exemption under s54B where appellant failed to submit required documentation to CIT(A)/NFAC despite multiple notices. While notices were sent to appellant's CA's email, who failed to inform appellant, resulting in appeal dismissal for non-prosecution. ITAT, considering overall circumstances and interests of justice, remanded matter back to CIT(A)/NFAC with directions to grant appellant final opportunity to substantiate claim with requisite details. CIT(A)/NFAC directed to adjudicate based on facts and law after appellant's submission. Appeal allowed for statistical purposes, contingent on appellant's compliance with submission requirements on appointed date.

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