https://www.taxtmi.com/caselaws?id=188781 Penalty proceedings could not be sustained as the assessment order did not disclose any discernible basis for their initiation. Relying on binding precedent, the HC held that the absence of recorded reasons did not give rise to a substantial question of law. The appeal consequently failed. en-us Fri, 14 Sep 2007 00:00:00 +0530 Thu, 13 Mar 2025 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188781 Penalty proceedings could not be sustained as the assessment order did not disclose any discernible basis for their initiation. Relying on binding precedent, the HC held that the absence of recorded reasons did not give rise to a substantial question of law. The appeal consequently failed. Case-Laws Income Tax Fri, 14 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188781