2017 (3) TMI 1824

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..... following case of CIT vs. Jai Laxmi Rice Mills [ 2015 (11) TMI 1453 - SUPREME COURT ] delete the impugned penalty. - Decided in favour of assessee. - ITA No.3109/Ahd/2015 - - - Dated:- 21-3-2017 - Pramod Kumar AM For the Appellant : M.J. Shah For the Respondent : Madhusudan ORDER 1. By way of this appeal, the assessee appellant has challenged correctness of the order dated 4 .....

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..... spute the factual element embedded in learned counsel s submission but contents that it is not statutory requirement that relevant penalty proceedings must be initiated by stating the same in the Assessment Order. When his attention was invited to Hon ble Supreme Court s judgment in the case of CIT vs. Jai Laxmi Rice Mills (supra), he did not have much to say beyond placing his reliance on the sta .....

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