https://www.taxtmi.com/caselaws?id=181320 The High Court dismissed the appeal challenging penalties under section 271(1)(c) for assessment years 2001-02 and 1999-2000. The Court found that the Assessing Officer did not record satisfaction regarding concealment of income or inaccurate particulars in the assessment orders. As the tax effect was below the limit and no discernible satisfaction was present, the Court held that no substantial question of law arose and dismissed the appeal for both assessment years. en-us Mon, 17 Sep 2007 00:00:00 +0530 Wed, 13 Apr 2016 14:47:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181320 The High Court dismissed the appeal challenging penalties under section 271(1)(c) for assessment years 2001-02 and 1999-2000. The Court found that the Assessing Officer did not record satisfaction regarding concealment of income or inaccurate particulars in the assessment orders. As the tax effect was below the limit and no discernible satisfaction was present, the Court held that no substantial question of law arose and dismissed the appeal for both assessment years. Case-Laws Income Tax Mon, 17 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181320