https://www.taxtmi.com/caselaws?id=348531 The ITAT remanded the quantum assessment issue back to the Assessing Officer, directing a re-decision after allowing the assessee to submit evidence. The penalty appeal, challenging a penalty imposed following the quantum addition, was also remitted in line with the quantum issue. Citing relevant case law, the ITAT emphasized the need for evidence in tax assessments and penalties. The penalty order was set aside, and the matter was referred back to the Assessing Officer for fresh assessment. Both appeals were allowed for statistical purposes. en-us Wed, 30 Aug 2017 00:00:00 +0530 Fri, 22 Sep 2017 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348531 The ITAT remanded the quantum assessment issue back to the Assessing Officer, directing a re-decision after allowing the assessee to submit evidence. The penalty appeal, challenging a penalty imposed following the quantum addition, was also remitted in line with the quantum issue. Citing relevant case law, the ITAT emphasized the need for evidence in tax assessments and penalties. The penalty order was set aside, and the matter was referred back to the Assessing Officer for fresh assessment. Both appeals were allowed for statistical purposes. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348531