The entire order of AO reads as follows :"The penalty proceedings initiated in this case under s. 271C r/w s. 274 of the IT Act, 1961 are hereby dropped."Held by High Court in Para 12 of its order that “the order passed by the AO is cryptic, to say the least, and it cannot be sustained” Toyota Motor Corporation 306 ITR 49. Order of High Court confirmed by supreme court in Toyota Motor Corporation 306 ITR 52 rejecting the plea of the assessee that when all relevant aspects were placed for consideration and if order did not record reasons, assessee can not be faulted followed in Smt. S. Uma Devi [2015] 62 taxmann.com 64 (Hyderabad - Trib.) JANUARY 30, 2015