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TMI Blog2008 (1) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... Del/2006 relevant for the Assessment Year 2000-01. 2. The sole question that has arisen for consideration in this appeal under Section 260A of the Income Tax Act, 1961 ("the Act") is whether the Assessing Officer had recorded his satisfaction for initiating penalty proceedings under Section 271(1)(c) of the Act. 3. In Commissioner of Income Tax v. Ram Commercial Enterprises Ltd., [2000] 246 ITR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 271 of the Income-tax Act can be said to have been recorded even in cases where satisfaction is not recorded in specific terms but is otherwise discernible from order passed by the authority." 5. In view of above submission of learned counsel for the Revenue we have proceeded on the basis that the question will be answered in the affirmative in favour of the Revenue by the larger&n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cable to the case and for what act of omission or commission by the Assessee. The Assessee had filed its returns and had disclosed all material facts of the case and had concealed nothing in its returns. If the Assessing Officer took a view contrary to that expressed by the Assessee, it does not per se mean that the Assessee should be penalized. 9. Against the order imposing penalty, the Assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of cases, some of which are Commissioner of Income Tax Del v. O.K. Hosiery Mills P. Ltd. (ITA No.12/2007 decided on 14th September, 2007), Commissioner of Income Tax v. M/s Bharat Hotels Ltd. (ITA No.1074/2006 decided on 14th September, 2007), Commissioner of Income Tax v. M/s Bharat Hotels Ltd. (ITA No.935/2006 decided on 14th September, 2007), Commissioner of Income Tax v. Fibro Tec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t under severe pressure in dealing with a large influx of appeals, which prima facie do not have any merit. By this flood of litigation, the Revenue is ensuring that more important cases, where stakes are much higher and where perhaps the Revenue has a better case, get relegated to the background and their turn cannot come up in the near future. We have been repeatedly observing this but to no eff ..... X X X X Extracts X X X X X X X X Extracts X X X X
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