Daily Archives: January 11, 2017


CIT vs. SSA’s Emerald Meadows (Supreme Court)  The Karnataka High Court had to consider the following question of law. “Whether, omission if assessing officer to explicitly mention that penalty proceedings are being initiated for furnishing of inaccurate particulars or that for concealment of income makes the penalty order liable for cancellation even when it has been proved beyond reasonable doubt that the assessee had concealed income in the facts and circumstances of the case?” The High Court ruled in favour of the assessee with the following observations: 

Omission by the AO to explicitly specify initiation of penalty proceedings makes the penalty order ...