The NFAC failed to examine the nature of the transaction and passed the order in a perfunctory manner.
In a recent judgment, the Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has restored the assessment order, highlighting that the National Faceless Appeal Centre ( NFAC ), failed to examine the nature of the unsecured loan transactions and passed the order in a perfunctory manner. An appeal has been filed by…
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