Dispute Over Penalty Due to Insufficient Prima Facie Satisfaction by Assessing Officer in Tax Assessment Order.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty u/s 271(1)(c) - There is no prima facie satisfaction which has been recorded by the AO for initiation of penalty proceedings which can be discerned from reading of the assessment order. - Addition has been made, merely, on a presumptive basis which is not sufficient for acquiring jurisdiction as contemplated by the provisions of section 271(1B) - AT....