2015 (11) TMI 1453

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..... Gargi Khanna, Adv. Ms. Anil Katyar, Adv. Mr. B. V. Balaram Das, Adv For the Respondent : Mr. Harpreet Singh, Adv. Mr. Rajesh Gupta, Adv. For M/s. K. J. John & Co ORDER In these appeals, we are concerned with the question as to whether penalty proceeding under Section 271D of the Income Tax Act (hereinafter referred to as "the Act") is independent of the assessment proceeding and this question a .....

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..... The assessee carried out this order in appeal. The Commissioner of Income Tax (Appeals) allowed the appeal and set aside the assessment order with a direction to frame the assessment de novo after affording adequate opportunity to the assessee. After remand, the Assessing Officer passed fresh assessment order. In this assessment order, however, no satisfaction regarding initiation of penalty pro .....

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..... sfaction recorded therein for the purpose of initiation of the penalty proceeding under Section 271E would also not survive. This according to us is the correct proposition of law stated by the High Court in the impugned order. As pointed out above, insofar as, fresh assessment order is concerned, there was no satisfaction recorded regarding penalty proceeding under Section 271E of the Act, thoug .....

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