2017 (3) TMI 1906

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..... lant has challenged correctness of the order dated 4th August 2015, passed by the learned CIT(A), upholding penalty of Rs.11,26,000/- imposed on the assessee under section 271D of the Income Tax Act, 1961, for the assessment year 2010-11. 2. When this appeal was called out for hearing, learned counsel for the assessee invited my attention to Hon'ble Supreme Court's judgement in the case of CIT vs .....

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..... say beyond placing his reliance on the stand so taken. 4. I have heard the rival contentions, perused the material on record and duly considered facts of the case in the light of applicable legal position. 5. I find that in the Assessment Order there is no mention about initiation of any penalty proceedings in connection with the impugned penalty. In this view of the matter and respectfully fol .....

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