https://www.taxtmi.com/caselaws?id=205536 The High Court ruled in favor of the revenue in a case challenging the deletion of penalty under Section 271(1)(c) of the Income Tax Act for the assessment year 2001-02. It held that the Assessing Officer must explicitly record positive and categorical satisfaction in the assessment order to invoke penalty jurisdiction. Without such explicit satisfaction, the penalty proceedings were deemed invalid. The Court set aside the previous order and remanded the matter to the Tribunal for a fresh decision in line with the legal requirements. en-us Fri, 08 Apr 2011 00:00:00 +0530 Fri, 23 Sep 2011 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205536 The High Court ruled in favor of the revenue in a case challenging the deletion of penalty under Section 271(1)(c) of the Income Tax Act for the assessment year 2001-02. It held that the Assessing Officer must explicitly record positive and categorical satisfaction in the assessment order to invoke penalty jurisdiction. Without such explicit satisfaction, the penalty proceedings were deemed invalid. The Court set aside the previous order and remanded the matter to the Tribunal for a fresh decision in line with the legal requirements. Case-Laws Income Tax Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205536