2012 (11) TMI 396

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....eals filed by the Revenue directed against the common order of Commissioner of Income-tax(Appeals)-XIV, Ahmedabad ('CIT(A)' for short) dated 20-11-2009 for the assessment years 1992-93 & 1996-97. The Revenue has raised common ground except figure in deleting penalty levied u/s. 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'). All these are heard together and are being ....

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....n behalf of assessee though notice was served upon the assessee through registered post. Hence, we proceed to dispose off the appeal after hearing Ld. DR of the Revenue. 5. We have heard the Ld. DR and perused the materials available on record. We find that Ld. CIT(A) deleted the penalty levied by Assessing Officer at pages 5 & 6 of his order, which is reproduced hereinbelow:- "With due regards ....

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....7 which is mainly related to mandatory penalty proceedings in respect of section 11 AC of Central Excise Act. It was held that penalty proceedings are separate than assessment proceedings and in the case of Income tax proceedings, these penalty proceedings are not automatic. The Hon'ble ITAT Ahmedabad 'C' Bench in the case of DCIT vs. Jay Chemical Industries Ltd. (ITA No.2515/Ahd/2006 A.Y. 2001-02....