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2018 (9) TMI 221 - CALCUTTA HIGH COURTPenalty proceedings u/s 271(1)(c) - passing of specific order - whether noting in the file would not be sufficient for dropping a penalty proceeding, which is proposed by the assessing officer? - Held that:- There is no dispute on the question that penalty proceeding is an independent proceeding under the Income Tax Act, 1961 and the proposal for initiating such proceeding does not by itself constitute initiation of such proceeding. In this case what we find is a noting by the assessing officer, which we have quoted in the preceding part of this judgment. This noting suggests dropping of the proceeding itself. But the commissioner’s view was that no formal order was passed in dropping the proceeding for initiation of the same. This noting, in our opinion, has all the attributes of a formal order. Since the assessing officer has taken a conscious decision not to proceed with the penalty proceeding and the Tribunal did not find any error in the course which was taken by the assessing officer, we do not find any substantial question of law to be involved in this appeal.
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