2017 (12) TMI 815

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..... lted. The citing of past instance or the lack of absence of cross-examination in no way, in the opinion of the Court, vitiates the initiation and culmination of penalty proceedings. No substantial question of law arises. - ITA 384/2017 - - - Dated:- 7-12-2017 - S. Ravindra Bhat And Sanjeev Sachdeva, JJ. For the Appellant : Mr. K.R. Manjani with Mr. V.K. Manjani, Advs For the Responde .....

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..... 8 of the Act, after AO held that the genuineness of the transaction was exposed. The Appellate Commissioner and the ITAT affirmed the AO s findings in the regular quantum appeals. The AO imposed in the subsequent proceedings under Section 271 of the Act ₹ 45,301/- as penalty. This too was carried in appeal to the Commissioner in the first instance and thereafter to the ITAT. All appeals .....

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