https://www.taxtmi.com/caselaws?id=378232 The Tribunal allowed the Assessee's appeals related to Assessment Year 2011-12, concerning the addition under section 69A and denial of deduction under section 54B. The Tribunal emphasized the Assessee's right to be heard and the principles of natural justice, remanding the issues back to the AO for proper consideration. The Tribunal also set aside the penalty under section 271(1)(c) as the quantum addition was being reconsidered, providing the Assessee relief from the penalty for the time being. en-us Tue, 09 Apr 2019 00:00:00 +0530 Wed, 10 Apr 2019 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378232 The Tribunal allowed the Assessee's appeals related to Assessment Year 2011-12, concerning the addition under section 69A and denial of deduction under section 54B. The Tribunal emphasized the Assessee's right to be heard and the principles of natural justice, remanding the issues back to the AO for proper consideration. The Tribunal also set aside the penalty under section 271(1)(c) as the quantum addition was being reconsidered, providing the Assessee relief from the penalty for the time being. Case-Laws Income Tax Tue, 09 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378232