TMI Blog2018 (5) TMI 1773X X X X Extracts X X X X X X X X Extracts X X X X ..... been initiated i.e., whether for concealment of particulars of income or furnishing inaccurate particulars of income. The entire penalty proceedings are, therefore, vitiated and no penalty is leviable. See COMMISSIONER OF INCOME TAX & ANR. VERSUS M/S SSA'S EMERALD MEADOWS [2016 (8) TMI 1145 - SUPREME COURT ] - The orders of the authorities below are set aside and penalty is cancelled. - Decided a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... however, relied upon the orders of the authorities below. 4. After considering the rival submissions, we are of the view that penalty is not leviable in the matter. The A.O. issued show cause notice dated 28th March, 2013 before levy of the penalty against the assessee in which the A.O. has recorded as under : have concealed the particulars of your income or furnished inaccurate particular ..... X X X X Extracts X X X X X X X X Extracts X X X X
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