https://www.taxtmi.com/caselaws?id=768430 The ITAT AGRA restored both quantum additions and penalty proceedings u/s 271(1)(c) to the AO for fresh determination. The case involved cash deposits in a joint bank account where the assessee, a small shoe trader, claimed income below taxable limits and filed no return. The assessee's brother provided affidavits claiming ownership of the deposits. Since the Tribunal restored quantum additions for denovo reassessment after considering new evidence, it deemed appropriate to also restore the penalty matter to the AO for fresh determination. The appeal was allowed for statistical purposes. en-us Wed, 11 Dec 2024 00:00:00 +0530 Mon, 07 Apr 2025 19:03:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768430 The ITAT AGRA restored both quantum additions and penalty proceedings u/s 271(1)(c) to the AO for fresh determination. The case involved cash deposits in a joint bank account where the assessee, a small shoe trader, claimed income below taxable limits and filed no return. The assessee's brother provided affidavits claiming ownership of the deposits. Since the Tribunal restored quantum additions for denovo reassessment after considering new evidence, it deemed appropriate to also restore the penalty matter to the AO for fresh determination. The appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 11 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768430