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of <h1>Tribunal Overturns NFAC Order, Remands Case for New Assessment, Offering Assessee Another Chance to Contest Tax Addition.</h1> The appellate tribunal overturned the NFAC's order under the Income Tax Act concerning the assessee's Joint Development Agreement. The tribunal set aside ... Ex parte assessment order u/s 147 r.w.s 144 - as submitted that the assessee may be given an opportunity to furnish the true and actual facts before the AO - HELD THAT:- We are of the view that the interests of justice will be well-served if the assessee is given an opportunity to present his case before the Assessing Officer. In view of this, the impugned order of the AO is set aside and the matter is restored to the file of the AO for de novo assessment. Appeal of the assessee is treated as allowed for statistical purposes. The appeal was filed against the order of the National Faceless Appeal Centre under the Income Tax Act. The assessee challenged the addition made on accrual basis regarding a Joint Development Agreement. The appellate tribunal set aside the Assessing Officer's order and remanded the matter for de novo assessment, allowing the appeal for statistical purposes.
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