In the result, both the appeals filed by the assessee are partly allowed for statistical purposes
Bench: Shri Manomohan Das & Shri Rakesh Mishra
171 taxmann.com 413 (SC)/[2025] 303 Taxman 499 (SC)/[2025] 473 ITR 557 (SC)[13-02-2025], specifically paras 31, 34, 35 extracted as under, in support of the claim that the penalty was not leviable: “31. This Court is of the view that though under Section 271AAA(1) of the Act 1961, the Assessing Officer has the discretion