TMI Blog2014 (10) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... alty is not leviable. There is no basis for such imposition after all for imposition of penalty Assessing Officer has to come to a definite finding and conclusion and many things have to be proved, imposition of penalty is a serious matter and cannot be imposed in a casual or summary manner like in the present case therefor, on the basis of provisional assessment, oar estimation penalty cannot be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DC(A), dated 7.12.2000 and quashed and set-aside the order of penalty passed by the learned Assessing Officer (In short 'The A.O.') amounting to ₹ 24921/- under Section 77(8) of the Act. 2. It is noticed that the A.O. imposed the penalty only on the basis of provisional assessment and the DC(A) in appeal came to the conclusion that no penalty could be imposed where provisional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner and perused the impugned orders passed by the Tax Board and the DC(A). After going through the orders impugned, I am of the opinion, that the Tax Board as well as the DC (A) have rightly deleted the penalty imposed by the AO taking into consideration the fact that merely on the basis of provisional assessment, penalty is not leviable. There is no basis for such imposition after all ..... X X X X Extracts X X X X X X X X Extracts X X X X
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