Penalty for Prior Year Deemed Unsound; Section 271E Penalty Imposition Overturned Due to Lack of Pending Proceedings.

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....Penalty u/s 271E - contravention of the provisions of Section 269T in the preceding assessment year - no proceedings pending before the Ld. AO qua the assessee for A.Y. 2014-15 - initiation of penalty proceedings under section 271E of the Act on the basis of assessment order for A.Y. 2015-16 is bad in law and imposition of impugned penalty by Ld. JCIT and confirmation thereof by the Ld. CIT(A) is not sustainable. - AT....