https://www.taxtmi.com/caselaws?id=1747 The High Court dismissed the appeal by the Revenue in a penalty proceeding under Section 271(1)(c) of the Income Tax Act for the assessment year 1998-99. The Court awaited a decision from a larger Bench on the necessity of explicit satisfaction by the Assessing Officer for penalty proceedings. Finding no explicit satisfaction recorded by the Assessing Officer, the Court concluded that no substantial question of law arose and dismissed the appeal. en-us Sat, 15 Sep 2007 00:00:00 +0530 Sat, 02 Aug 2008 19:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1747 The High Court dismissed the appeal by the Revenue in a penalty proceeding under Section 271(1)(c) of the Income Tax Act for the assessment year 1998-99. The Court awaited a decision from a larger Bench on the necessity of explicit satisfaction by the Assessing Officer for penalty proceedings. Finding no explicit satisfaction recorded by the Assessing Officer, the Court concluded that no substantial question of law arose and dismissed the appeal. Case-Laws Income Tax Sat, 15 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1747