https://www.taxtmi.com/caselaws?id=364154 The Tribunal allowed both appeals of the Revenue for statistical purposes, emphasizing the importance of adhering to procedural requirements in tax assessments and penalty determinations. The judgment highlighted the need for a thorough evaluation of facts and compliance with legal provisions in such cases. The disallowance under section 40A(3) of the Income Tax Act was remitted back to the AO for reevaluation due to procedural errors, and the penalty appeal was set aside for fresh adjudication as it was decided before the quantum appeal, which was procedurally incorrect. en-us Thu, 12 Jul 2018 00:00:00 +0530 Thu, 16 Aug 2018 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364154 The Tribunal allowed both appeals of the Revenue for statistical purposes, emphasizing the importance of adhering to procedural requirements in tax assessments and penalty determinations. The judgment highlighted the need for a thorough evaluation of facts and compliance with legal provisions in such cases. The disallowance under section 40A(3) of the Income Tax Act was remitted back to the AO for reevaluation due to procedural errors, and the penalty appeal was set aside for fresh adjudication as it was decided before the quantum appeal, which was procedurally incorrect. Case-Laws Income Tax Thu, 12 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364154