2018 (2) TMI 1919

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....enue by:  Albinus Tirkey, Sr. D.R.   Assessee by:  P.F. Jain, A.R.    ORDER N.K. BILLAIYA, 1. This is an appeal by the Revenue and Cross Objection by the assessee preferred against the order of the CIT(A)-10, Ahmedabad dated 09.11.2015 pertaining to assessment year 2006-07. 2. The solitary grievance of the Revenue is that the CIT(A) has erred in deletin....

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....in why penalty should not be levied on the income disclosed in the return filed pursuant to the notice under section 148 of the Act.  The assessee filed a detailed reply strongly contending that the returned income was accepted as such and it is not a case of any concealment of income or filing inaccurate particulars of income.  The contention of the assessee did not find any favour with....

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.... Officer.  Per contra, learned counsel for the assessee reiterated what has been stated before the lower authorities. 7. We have given a thoughtful consideration to the orders of the authorities below.  The order dated 28.03.2013 passed by the Assessing Officer read as under :- "DROPPING PROCEEDINGS INITIATED UNDER SECTION 271F OF THE I.T. ACT, 1961 In view of the reply dated 24.....