https://www.taxtmi.com/caselaws?id=191238 The Tribunal held that the Commissioner erred in assuming jurisdiction under Section 263 to direct the Assessing Officer to initiate penalty proceedings. It emphasized that penalty proceedings are separate from assessment proceedings, and the AO has discretion under Sections 271A and 271AAA to decide on penalties. The Tribunal found the assessment orders not erroneous or prejudicial to Revenue, quashing the Commissioner's order and restoring the original assessment orders in favor of the assessees. en-us Mon, 21 Apr 2014 00:00:00 +0530 Mon, 27 Mar 2017 07:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191238 The Tribunal held that the Commissioner erred in assuming jurisdiction under Section 263 to direct the Assessing Officer to initiate penalty proceedings. It emphasized that penalty proceedings are separate from assessment proceedings, and the AO has discretion under Sections 271A and 271AAA to decide on penalties. The Tribunal found the assessment orders not erroneous or prejudicial to Revenue, quashing the Commissioner's order and restoring the original assessment orders in favor of the assessees. Case-Laws Income Tax Mon, 21 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191238