https://www.taxtmi.com/caselaws?id=185047 The appeal was allowed as the penalty was set aside due to the absence of recorded satisfaction in the assessment order regarding the initiation of penalty proceedings under section 271(1)(c) for the assessment year 1999-2000. The Tribunal found that the satisfaction of the Assessing Officer was not discernible from the assessment order, rendering the penalty void ab initio. As a result, the penalty imposed on the assessee for various items was overturned. en-us Fri, 24 Sep 2010 00:00:00 +0530 Thu, 28 Jul 2016 18:28:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185047 The appeal was allowed as the penalty was set aside due to the absence of recorded satisfaction in the assessment order regarding the initiation of penalty proceedings under section 271(1)(c) for the assessment year 1999-2000. The Tribunal found that the satisfaction of the Assessing Officer was not discernible from the assessment order, rendering the penalty void ab initio. As a result, the penalty imposed on the assessee for various items was overturned. Case-Laws Income Tax Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185047