2019 (12) TMI 1569

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....heth - CA For the  Revenue : Smt. Anupam Singla - Sr.DR ORDER PER SANDEEP GOSAIN, JM: 1. This appeal by the Assessee is directed against the order of Ld.Commissioner of Income Tax-(Appeals)-1, Surat dated 25.08.2015 for the assessment year 2010-11. 2. The solitary ground relates to order that in confirming the order passed of AO u/s.271D of the Act. 3. As per the facts of th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ded before levy of penalty u/s.271D of the I.T. Act by the ld. Assessing Officer(AO) and in this respect our attention was drawn to the concluding portion of the assessment order. 6. On perusal of the same, we find that no satisfaction was recorded by the AO before initiating any penalty u/s.271D of the I.T. Act and in this respect it was held by Hon'ble Apex Court in the case of ITO Vs. Ja....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t in the case of CIT vs. Jai Laxmi Rice Mills reported in (2015) 379 ITR 521 (SC), dealing with the levy of penalty under section 271D of the Act, has held that if there is no satisfaction recorded in the order of assessment regarding initiation of penalty proceedings under section 271D of the Act, then no penalty thereunder could be levied. We have, respectfully perused a copy of the aforesaid ju....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he Act for A.Y. 2000-01. Consequently the assessee's additional grounds are allowed in both the appeals. 7. Since the position in the present case is identical as no satisfaction has been recorded by the ld.AO before initiating penalty u/s.271D of the I.T.Act, therefore while relying upon the judgments as mentioned above, we hold that since no satisfaction had been recorded for initiating penal....