https://www.taxtmi.com/caselaws?id=327776 The Tribunal held that the show cause notice under Section 274 was defective and the satisfaction for initiating penalty proceedings was not discernible from the assessment order. Consequently, the penalty imposed under Section 271(1)(c) was unsustainable and directed to be cancelled. The Assessee's appeal was allowed, and the penalty was annulled. en-us Wed, 06 Apr 2016 00:00:00 +0530 Thu, 19 May 2016 10:23:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327776 The Tribunal held that the show cause notice under Section 274 was defective and the satisfaction for initiating penalty proceedings was not discernible from the assessment order. Consequently, the penalty imposed under Section 271(1)(c) was unsustainable and directed to be cancelled. The Assessee's appeal was allowed, and the penalty was annulled. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327776