TaxTMI 
TaxTMI 
2008 (4) TMI 231
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.... for the parties, the following substantialquestion of law is framed for consideration : "Whether the Assessing Officer could have passed an order under section 271C of the Income Tax Act, 1961 without giving any reasons whatsoever?" 3. Filing of paper books is dispensed with. 4. The Revenue is aggrieved by an order dated passed by the Income TaxAppellate Tribunal, Delhi Bench "B", New Delhi in....
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....icer carry out necessary investigations to come to a conclusion that penalty is not leviable. Consequently, he found that the order is erroneous and prejudicial to the interest of the Revenue. The CIT then set aside the order passed by the Assessing Officer under Section 271C of the Act to be reframed afresh after making necessary inquiries and verification and after giving a reasonable opportunit....
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.... There is no doubt that the proceedings before the Assessing Officer are quasi-judicial proceedings and a decision taken by the Assessing Officer in this regard must be supported by reasons. Otherwise, every order, such as the one passed by the Assessing Officer, could result in a theoretical possibility that it may be revised by the CIT under Section 263 of the Act. Such a situation is clearly im....