2008 (8) TMI 56 - SUPREME COURT - Income Tax

Head Note / Extract:
Failure to deduct tax at source – AO dropped penalty l without giving any reasons –CIT in revision hold that order of AO is prejudicial to interest of revenue – CIT hold that AO should have gone into facts of the case before disposing penalty proceedings – it shall be duty of AO to take into account all the relevant aspects including the materials, if any, already placed by the assessee, and pass a reasoned