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ITAT held that the assessment order under old PAN cannot survive where the appellant company has already filed returns and been assessed under new PAN as a 'Company'. The tribunal condoned the delay in filing appeals, finding 'sufficient and reasonable cause' due to the company's unawareness of proceedings. The matter was remanded to the jurisdictional AO to verify transactions reported under the old PAN and confirm whether they were already accounted in the company's books of accounts. The duplicate PAN status was acknowledged, and no fresh assessment was deemed necessary.
ITAT held that the assessment order under old PAN cannot survive where the appellant company has already filed returns and been assessed under new PAN as a 'Company'. The tribunal condoned the delay in filing appeals, finding 'sufficient and reasonable cause' due to the company's unawareness of proceedings. The matter was remanded to the jurisdictional AO to verify transactions reported under the old PAN and confirm whether they were already accounted in the company's books of accounts. The duplicate PAN status was acknowledged, and no fresh assessment was deemed necessary.
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