2009 (9) TMI 209

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..... -tax Appellate Tribunal order?” – Since concealment of income is not proved, penalty cannot be sustained –The Tribunal while dismissing the Revenues appeal has held that as in the quantum proceedings, the issue relating to addition which was a subject-matter of the present proceedings under section 271(l)(c) has since been restored back to the file of the assessing authority for decision afresh, p .....

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..... tial question of law: "Whether, on the facts and circumstances of the case, the Tribunal was legally justified in directing the Assessing Officer to initiate penalty proceedings in fresh assessment when the limitation for completion of fresh assessment already expired as on date of Income-tax Appellate Tribunal order?" 2. We have heard Sri A. N. Mahajan, learned standing counsel for the Depart .....

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..... ed back to the file of the assessing authority for decision afresh, penalty imposed under section 271(1)(c) does not survive. The Tribunal, however, gave the direction that the Assessing Officer shall be at liberty to initiate penalty proceedings afresh, if he so likes, when he frames the fresh assessment order. 4. From the perusal of the orders passed by the assessing authority as also the Trib .....

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