https://www.taxtmi.com/caselaws?id=377280 The ITAT allowed both the quantum and penalty appeals of the assessee. The ITAT found that the AO failed to properly assess the case regarding the addition in total income, remitting the issue back for re-investigation. As the determination of taxable income was set aside, the ITAT held that the imposition of penalty would depend on the AO's post-assessment decision. No penalty was deemed sustainable at that point. en-us Mon, 25 Mar 2019 00:00:00 +0530 Tue, 26 Mar 2019 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377280 The ITAT allowed both the quantum and penalty appeals of the assessee. The ITAT found that the AO failed to properly assess the case regarding the addition in total income, remitting the issue back for re-investigation. As the determination of taxable income was set aside, the ITAT held that the imposition of penalty would depend on the AO's post-assessment decision. No penalty was deemed sustainable at that point. Case-Laws Income Tax Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377280