https://www.taxtmi.com/caselaws?id=329404 The ITAT remanded the penalty issue back to the CIT(A) for fresh adjudication after admitting additional evidence from the appellant, which showed consistent treatment of reduced WDV in subsequent years. The ITAT deemed this evidence crucial and necessary for a fair hearing. The appeal was allowed for statistical purposes, indicating a potential favorable outcome for the appellant in the ongoing penalty proceedings under section 271(1)(c) of the Income Tax Act, 1961. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 01 Jul 2016 12:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329404 The ITAT remanded the penalty issue back to the CIT(A) for fresh adjudication after admitting additional evidence from the appellant, which showed consistent treatment of reduced WDV in subsequent years. The ITAT deemed this evidence crucial and necessary for a fair hearing. The appeal was allowed for statistical purposes, indicating a potential favorable outcome for the appellant in the ongoing penalty proceedings under section 271(1)(c) of the Income Tax Act, 1961. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329404