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TMI Blog2015 (3) TMI 497X X X X Extracts X X X X X X X X Extracts X X X X ..... trace the reasons from the file of such authorities. - Decided in favour of assessee - Income Tax Appeal No. - 53 of 2006 - - - Dated:- 27-2-2015 - Hon'ble Sudhir Agarwal And Hon'ble Shashi Kant,JJ. For the Appellant : Dhananjay Awasthi, B. Agrawal For the Respondent : P. K. Jain ORDER 1. Heard Sri Dhananjay Awasthi, learned counsel for appellant and Sri P.K. Jain, learned Senior Advocate appearing for respondent assessee. 2. This appeal was admitted on sole substantial question of law, as under :- Q.1. Whether on the facts and circumstances of the case, the ITAT is legally justified in holding that the Assessing Officer has not recorded any positive and categorical satisfaction about concealment in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ..... 5. What is required in law is satisfaction of assessing officer which should be apparent from the order, regarding concealment of particulars of income or furnishing of inaccurate particulars of such income. 6. In C.I.T. Vs. Ram Commercial Enterprises Ltd. (2000) 246 ITR 568, Court said as under : The satisfaction as to the assessee having concealed the particulars of his income or furnished inaccurate particulars of such income is to be arrived at by the Assessing Officer during the course of any proceedings under the Act, which would mean the assessment proceedings, without which, the very jurisdiction to initiate the penalty proceedings is not conferred on the assessing authority by reference to clause (c) of sub-Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of satisfaction should be apparent from the order itself. It is not for the courts to go into the mind of the authorities or trace the reasons from the file of such authorities. 9. Following aforesaid authorities, a Division Bench of this Court in Income Tax Appeal No. 62 of 2000 - Commissioner of Income Tax Vs. M/s E.C.C. Project Pvt. Ltd. (decided on 25.07.2014), said as under :- In view of above, well settled legal position, we are of the view that in the instant case, no penalty is levyable under section-271B of the Act when A.O. failed to record its satisfaction in the assessment order pertaining to it. There is no whisper in the assessment order regarding the levy of the penalty. When it so then we find no reason to interf ..... X X X X Extracts X X X X X X X X Extracts X X X X
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