https://www.taxtmi.com/caselaws?id=754268 The ITAT remanded both appeals to the AO for fresh assessments. In ITA No.160/PUN/2024, the Tribunal identified errors in the allocation of the assessee's share and expense deductions, directing reconsideration based on new evidence. In ITA No.159/PUN/2024, the penalty under section 271(1)(c) was also remanded for reassessment, allowing the assessee to present additional arguments. Both appeals were allowed for statistical purposes, highlighting procedural discrepancies in the original assessments. en-us Wed, 29 May 2024 00:00:00 +0530 Thu, 20 Jun 2024 08:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754268 The ITAT remanded both appeals to the AO for fresh assessments. In ITA No.160/PUN/2024, the Tribunal identified errors in the allocation of the assessee's share and expense deductions, directing reconsideration based on new evidence. In ITA No.159/PUN/2024, the penalty under section 271(1)(c) was also remanded for reassessment, allowing the assessee to present additional arguments. Both appeals were allowed for statistical purposes, highlighting procedural discrepancies in the original assessments. Case-Laws Income Tax Wed, 29 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754268