https://www.taxtmi.com/caselaws?id=63807 The High Court dismissed the Department's appeal and allowed the assessee's cross-objection in a case concerning penalty under section 271(1)(c) of the IT Act. The Court emphasized the necessity of the Assessing Officer recording satisfaction of concealment in the assessment order before initiating penalty proceedings. As the assessment order lacked this essential element, the penalty order was deemed legally flawed and subsequently canceled. en-us Tue, 29 Jan 2002 00:00:00 +0530 Wed, 02 Feb 2011 10:29:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63807 The High Court dismissed the Department's appeal and allowed the assessee's cross-objection in a case concerning penalty under section 271(1)(c) of the IT Act. The Court emphasized the necessity of the Assessing Officer recording satisfaction of concealment in the assessment order before initiating penalty proceedings. As the assessment order lacked this essential element, the penalty order was deemed legally flawed and subsequently canceled. Case-Laws Income Tax Tue, 29 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63807