https://www.taxtmi.com/caselaws?id=65528 The ITAT Delhi-H allowed the appeal of the assessee, setting aside the penalty imposed under section 271(1)(c) of the IT Act for claiming exemption under section 10(23G) due to the AO's failure to record satisfaction for initiating penalty proceedings during the assessment. The decision emphasized the significance of procedural requirements in penalty imposition and cited legal precedents to support the ruling. en-us Wed, 30 May 2007 00:00:00 +0530 Wed, 16 Feb 2011 13:42:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65528 The ITAT Delhi-H allowed the appeal of the assessee, setting aside the penalty imposed under section 271(1)(c) of the IT Act for claiming exemption under section 10(23G) due to the AO's failure to record satisfaction for initiating penalty proceedings during the assessment. The decision emphasized the significance of procedural requirements in penalty imposition and cited legal precedents to support the ruling. Case-Laws Income Tax Wed, 30 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65528