2009 (12) TMI 591

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....ainable for want of tax effect above Rs. 4 lakhs in terms of the Board's circular, we notice that the circular provides for exception for maintainability of appeal in cases involving substantial question of law of importance as well as cases where the same question of law will repeatedly arise. In this case, we notice that assessment was made on the basis of the assessee's agreement that interest ....

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....proceedings were initiated against the assessee. We feel, if the Assessing Officer commits violation of the conditional offer, then the validity of the penalty proceedings could be questioned before higher authorities or in court. However, the violation on the side of the officer does not mean that the assessment is not made on an agreed basis. We find from the assessment order, the specific state....