https://www.taxtmi.com/caselaws?id=215412 The Tribunal partly allowed the appeals by the assessee for statistical purposes. The order of Ld. CIT(A) rejecting the claim to be assessed as a Joint Venture was set aside, and the matter was remanded for fresh adjudication. The disallowance of depreciation claimed by the appellant was also set aside for reevaluation. The Tribunal deemed the initiation of penalty proceedings premature and disposed of the issue of interest levy as consequential. The matters were directed to be reconsidered by Ld. CIT(A) for fresh adjudication on the identified issues. en-us Fri, 22 Jun 2012 00:00:00 +0530 Fri, 03 Aug 2012 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215412 The Tribunal partly allowed the appeals by the assessee for statistical purposes. The order of Ld. CIT(A) rejecting the claim to be assessed as a Joint Venture was set aside, and the matter was remanded for fresh adjudication. The disallowance of depreciation claimed by the appellant was also set aside for reevaluation. The Tribunal deemed the initiation of penalty proceedings premature and disposed of the issue of interest levy as consequential. The matters were directed to be reconsidered by Ld. CIT(A) for fresh adjudication on the identified issues. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215412