https://www.taxtmi.com/caselaws?id=4035 The court found the penalty proceedings initiated under Section 271(1)(C) of the Income-tax Act to be arbitrary, illegal, and without jurisdiction due to the absence of recorded satisfaction by the Assessing Officer. The court set aside the impugned proceedings, ruling in favor of the assessee. en-us Thu, 06 Dec 2007 00:00:00 +0530 Sat, 26 Jul 2008 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4035 The court found the penalty proceedings initiated under Section 271(1)(C) of the Income-tax Act to be arbitrary, illegal, and without jurisdiction due to the absence of recorded satisfaction by the Assessing Officer. The court set aside the impugned proceedings, ruling in favor of the assessee. Case-Laws Income Tax Thu, 06 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4035