9911796707
TMI Blog2007 (9) TMI 259X X X X Extracts X X X X X X X X Extracts X X X X ..... A of the Income-tax Act, 1961 ("the Act"), the Revenue is aggrieved by an order dated February 17, 2006, passed by the Income-tax Appellate Tribunal, Delhi Bench "G" in I.T.A. No. 2747/Del/2005 relevant to the assessment year 2001-02. 2. By the order under appeal, the Tribunal allowed the appeal filed by the assessee challenging the levy of penalty under section 271(1)(c) of the Act. The penalty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Filing of paper book is dispensed with. The appeal is taken up for final hearing with the consent of learned counsel. 6. At the outset, we may notice that the view expressed by this court in Ram Commercial Enterprises Ltd., that the failure on the part of the Assessing Officer to record his satisfaction in the assessment order vitiates the penalty proceedings has been approved by the Supreme Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aforementioned portion of the assessment order indicates the satisfaction of the Assessing Officer and that, therefore, this was not a case where the dictum of Ram Commercial Enterprises Ltd. would apply. He submits that this matter should be remanded to the Tribunal for a decision on the merits. 9. Learned counsel for the assessee submitted that in fact no inaccurate particulars were furnished a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nclusion that the Assessing Officer had not recorded his satisfaction about the initiation of the penalty proceedings and in applying the decision in Ram Commercial Enterprises Ltd. to the facts of the present case. The Tribunal ought to have decided the issue on the merits. 12. We, accordingly, answer the question in the negative, in favour of the Revenue and against the assessee. We set aside t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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