TMI Blog2019 (4) TMI 766X X X X Extracts X X X X X X X X Extracts X X X X ..... plated u/s.271(1)(c) have been recorded by the Assessing Officer while completing the assessment that in which limbs, the issue is following. The Assessing Officer has simply mentioned that “penalty proceedings u/s.271(1)(c) are initiated separately”, Case of VV PROJECTS AND INVESTMENT P. LTD. VERSUS DEPUTY CIT [2007 (12) TMI 97 - ANDHRA PRADESH HIGH COURT] followed - Decided against revenue - IT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... penalty proceedings by the Assessing Officer was for furnishing of inaccurate particulars of income and also for concealment of particulars of income. Ld Counsel referred to the followings as noted by the Assessing Officer in the assessment order: Initiated Penalty proceedings under section.271(1)(c) of the I.T.Act 1961 separately 4. Ld Counsel took me through the penalty order dated 28. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that in which limbs, the issue is following. The Assessing Officer has simply mentioned that penalty proceedings u/s.271(1)(c) are initiated separately . I find that Hon ble A.P. High Court in the case of V.V.Projects and Investments Pvt Ltd (supra) has held as under: The Assessing Officer has to form his own opinion and record his satisfaction of concealment of income or furnishing of inac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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