CIT(A) Cannot Remand 143(3)/144B Assessments Under New 251(1) Proviso: ITAT Pune

ITO Vs Shamsundar Kaliram Agarwal (ITAT Pune) ITAT Pune: CIT(A) Cannot Remand 143(3)/144B Assessment – Must Decide on Merits- New 251(1) Proviso Not Applicable – Tribunal Quashes NFAC’s Remand to AO Pune Tribunal considered whether CIT(A) was justified in remanding an assessment back to AO by invoking the new proviso to section 251(1) inserted by Finance Act 2024. Assessee’s assessment was originally completed u/s 143(3) r.w.s 144B on 20.04.2021 at ₹50.80 crore against returned income of ₹2.93 lakh. CIT(A) by order dated 29.05.2023 had directed AO to recompute income based on peak ...