AO Fails to Verify Additional Evidence in violation of Rule 46A of Income Tax Rules: ITAT directs Readjudication [Read Order]

AO Fails to Verify Additional Evidence - Income Tax Rules - Additional Evidence - ITAT directs Readjudication - taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) directed readjudication on grounds of non verification of additional evidence by the assessing Officer (AO). The assessee filed its return of income for the assessment year 2015-16 on 30.11.2015 admitting NIL income and current year loss of ₹.7,87,45,865/-. The Assessing Officer noted that the assessee…

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