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TMI Blog2018 (3) TMI 1363X X X X Extracts X X X X X X X X Extracts X X X X ..... in the alternative, it must indicate that both apply to the facts of the case. This is not having been done, prima facie, the impugned order dated 30th June, 2011 is not sustainable. This also would require consideration at the final hearing. - Decided in favour of assessee - Income Tax Appeal No. 157 of 2018 With Notice of Motion No. 151 of 2018 in Income Tax Appeal No.157 of 2018 - - - Dated:- 23-3-2018 - M.S. SANKLECHA SANDEEP K. SHINDE, J.J. Mr. Jehangir Mistri, Senior Counsel a/w Mr. Madhur Agarwal, Mr. P.C. Tripathi i/b Atul Jasani for the appellant / applicant Mr. Suresh Kumar for the respondent P.C. 1. The appellant has taken out the notice of motion seeking expeditious hearing of Income Tax Appeal No.157 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal. This would enable the Tribunal to keep the papers and proceedings relating to the present appeal available, to be produced when sought for by the Court. 6. Mr. Suresh Kumar, learned Counsel appearing for the respondent waives service of the appeal. 7. We now take up the Notice of Motion. We find that the impugned order dated 30th June, 2016 of the Tribunal has imposed a penalty under Section 271(1)(c) of the Act on what appears to be prima facie an issue of interpretation of Section 115JB of the Act. It is true that no appeal was filed by the appellant in quantum proceedings, as according to the appellant, the amount was small and in any case it was only an issue of timing difference. In any case, penalty proceedings are dif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ., 359 ITR 565 . In the aforesaid cases, the Court has taken a view that concealment of particulars of income or furnishing inaccurate particulars of income in Section 271 (1)(c) of the Act carries different meaning. Therefore, prima facie, we are of the view that the satisfaction of the Assessing Officer at the time of initiation of penalty proceedings, must indicate which of the two i.e. concealment of particulars of income or furnishing inaccurate particulars of income applies to the facts of this case or in the alternative, it must indicate that both apply to the facts of the case. This is not having been done, prima facie, the impugned order dated 30th June, 2011 is not sustainable. This also would require consideration at the final h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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