DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(2), CHENNAI, CHENNAI vs. JAYAPRIYA COMPANY, CHENNAI

In the result, appeal filed by the Revenue is dismissed and the\nCross-Objection filed by the assessee is allowed

2) of the Act. The proceedings for the imposition of penalty in terms\nof sub-section (1) of section 271 have necessarily to be initiated either by\nthe Income-tax Officer or by the Appellate Assistant Commissioner. The\nfact that the Income-tax Officer has to refer the case to the Inspecting\nAssistant Commissioner if the minimum imposable penalty exceeds

DCIT, CENTRALCIRCLE-2(2), CHENNAI vs. SUBRAMANIAM THANU, CHENNAI

In the result, all the appeals filed by the Revenue as well as Cross