Deemed satisfaction for penalty initiation: assessment orders adding or disallowing wealth permit commencement of penalty proceedings. Where an amount is added or disallowed in computing net wealth in an assessment or reassessment and the order contains a direction to initiate penalty proceedings under clause (c) of sub section (1), that assessment or reassessment order is deemed to constitute satisfaction of the Assessing Officer for initiation of those penalty proceedings; the provision is given retrospective effect from the stated operative date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed satisfaction for penalty initiation: assessment orders adding or disallowing wealth permit commencement of penalty proceedings.
Where an amount is added or disallowed in computing net wealth in an assessment or reassessment and the order contains a direction to initiate penalty proceedings under clause (c) of sub section (1), that assessment or reassessment order is deemed to constitute satisfaction of the Assessing Officer for initiation of those penalty proceedings; the provision is given retrospective effect from the stated operative date.
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