https://www.taxtmi.com/caselaws?id=248112 The Allahabad High Court upheld the Income Tax Appellate Tribunal's decision to delete a penalty under section 271(1)(c) related to interest on the Sugar Development Fund for the assessment year 2000-01. The court emphasized the necessity of specific directions for penalty initiation in assessment orders, noting the absence of recorded satisfaction for penalty initiation regarding the SDF loan interest. The court dismissed the appeal, stating no substantial question of law was raised, and no costs were awarded. en-us Mon, 26 May 2014 00:00:00 +0530 Wed, 02 Sep 2015 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248112 The Allahabad High Court upheld the Income Tax Appellate Tribunal's decision to delete a penalty under section 271(1)(c) related to interest on the Sugar Development Fund for the assessment year 2000-01. The court emphasized the necessity of specific directions for penalty initiation in assessment orders, noting the absence of recorded satisfaction for penalty initiation regarding the SDF loan interest. The court dismissed the appeal, stating no substantial question of law was raised, and no costs were awarded. Case-Laws Income Tax Mon, 26 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248112