Bench: Shri George Mathan & Shri Ratnesh Nandan Sahaym/S Central Coalfields Ltd., D.C.I.T., Darbhanga House, Kutchery Road, Circle-1, Vs. Ranchi-834001 (Jharkhand) Ranchi. Pan No. Aaacc 7476 R Appellant/ Assessee Respondent/ Revenue D.C.I.T., Central Coalfield Ltd., Circle-1, 4Th Floor, Central Revenue Building Vs. Ranchi. Annexee, 5A, Main Road, Ranchi-834001 (Jharkhand) Pan No. Aaacc 7476 R Appellant/ Revenue Respondent/ Assessee

3 lakh metric tons, was made under section 69. Simultaneously, the proceedings under section 274, read with section 271(1)(c) was initiated.  The assessee filed his objections to the same contending that the Assessing Officer had not recorded satisfaction about the assessee furnishing inaccurate particulars or concealing the income.  The Appellate Authority confirmed the said order of penalty