2017 (3) TMI 1906

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n with the impugned penalty. In this view of the matter and respectfully following the Hon ble Supreme Court s judgment in the case of CIT vs. Jai Laxmi Rice Mills [ 2015 (11) TMI 1453 - SUPREME COURT] wherein it is held that recording of satisfaction regarding initiation of penalty proceedings under section 271E is a condition precedent for imposing the said penalty, we delete the impugned penal .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... imposing the said penalty. Counsel submits that it is undisputed position that in the present case no such satisfaction has been recorded. It was submission that for this short reason alone the impugned penalty must stand deleted. 3. Ld. Departmental Representative does not dispute the factual element embedded in learned counsel s submission but contents that it is not statutory requirement th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X