Closure of Business is a Reasonable Cause for Non-cooperation with Income Tax proceedings: ITAT quashes Ex-Parte Order [Read Order]

Closure of Business - Reasonable Cause - Non-cooperation - Income Tax proceedings - ITAT - Ex-Parte Order - Taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has quashed an assessment order and asked the AO to re-consider the matter afresh by observing that the closure of business is a reasonable cause for non-cooperation of assessee with the income tax proceedings. The assessee, Balex Private Ltd, is engaged in the business of manufacturing of…

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