2015 (11) TMI 1453

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....llant : Mr. K. Radha Krishna, Sr. Adv. Mr. Arijit Prasad, Adv. Mr. Gargi Khanna, Adv. Ms. Anil Katyar, Adv. Mr. B. V. Balaram Das, Adv For the Respondent : Mr. Harpreet Singh, Adv. Mr. Rajesh Gupta, Adv. For M/s. K. J. John & Co ORDER In these appeals, we are concerned with the question as to whether penalty proceeding under Section 271D of the Income Tax Act (hereinafter referred to as "....

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....at penalty proceedings under Section 271E of the Act were to be initiated. The assessee carried out this order in appeal. The Commissioner of Income Tax (Appeals) allowed the appeal and set aside the assessment order with a direction to frame the assessment de novo after affording adequate opportunity to the assessee. After remand, the Assessing Officer passed fresh assessment order. In this....

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....ple reason that when the original assessment order itself was set aside, the satisfaction recorded therein for the purpose of initiation of the penalty proceeding under Section 271E would also not survive. This according to us is the correct proposition of law stated by the High Court in the impugned order. As pointed out above, insofar as, fresh assessment order is concerned, there was no sati....