ITAT Mumbai Remands Case Where Income Was Claimed Taxed Under Another PAN

Advertisement Savera Construction Co. Vs ACIT (ITAT Mumbai) Mumbai ITAT Remands Assessment and Penalty Appeals Where Assessee Claimed Income Was Already Offered Under a Different PAN The Mumbai ITAT set aside the ex parte appellate orders confirming both the quantum addition and the penalty under section 271(1)(c), holding that the assessee’s claim required proper factual verification. The assessment had been reopened on the basis of information that the assessee had sold an immovable property for ₹67.25 lakh, and, in the absence of compliance, the Assessing Officer completed the as...