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TMI Blog2010 (9) TMI 1176X X X X Extracts X X X X X X X X Extracts X X X X ..... Jain (Judicial Member) This is assessee's appeal for the assessment year 1999-2000. This appeal has been filed against the order dated 15.9.2004 passed by the learned CIT(A), confirming the concealment penalty levied on the following four items:- Rs. 1. Disallowance of shifting expenses 9,73,069/- 2. Disallowance of legal and professional charges 5,00,000/- 3. Deferred revenue expenditure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch comprise a copy of the assessment order dated 15.3.2002. The learned counsel for the assessee has sought to place reliance on 'Ms. Madhushree Gupta & Another v. Union of India & Another' 317 ITR 307(Del). 4. On the other hand, on this issue, the ld. DR has contended that penalty proceedings were initiated as per assessment order, which fact is discernable from the assessment order. 5. We have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ms. Madhushree Gupta & Another v. Union of India & Another'(supra), it has been held that the provisions of section 271(1)(c) of the Act introduced a deeming fiction with retrospective effect that a direction in the assessment order to initiate penalty proceedings is to be deemed as a satisfaction of the AO; that however, such satisfaction must be discernable from the assessment order. 7. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nalty could have been imposed. The penalty imposed is thus void ab initio and is liable to be set aside. 9. In view of the above, the penalty imposed on the assessee is hereby set aside. 10. Since the penalty imposed on the assessee has been, as above, set aside for the reason of no satisfaction having been recorded in the assessment order, no other issue survives. 11. In the result, the appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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