- (1.) Heard learned Counsel on both sides.
(2.) Since the assessee had questioned the validity of show-cause notice dated 2nd March, 2001, by filing Civil Writ Petn. No. 2533 of 2001 in the Delhi High Court, we are of the view that, in the light of the judgment of this Court in the case of CIT v. Eli LiRy & Co. (India) (P) Ltd. and Ors., 2009 312 ITR 225, the matter needs re-examination by the assessing officer in terms of the said judgment. In the circumstances, we see no reason to interfere with the impugned judgment of the High Court which has directed the assessee to move the assessing officer in the penalty proceedings.
(3.) Subject to above, the assessees cMl appeal is dismissed with no order as to costs.;