https://www.taxtmi.com/caselaws?id=188782 The High Court, Delhi, dismissed the appeal against the Income Tax Appellate Tribunal's decision to set aside a penalty under Section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2001-02. The Court found that the Assessing Officer's assessment order did not show explicit satisfaction regarding concealment or inaccurate particulars, leading to the conclusion that no legal basis existed for initiating penalty proceedings. As a result, the Court held that no substantial question of law was raised, and the appeal was dismissed. en-us Fri, 14 Sep 2007 00:00:00 +0530 Fri, 16 Dec 2016 14:11:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188782 The High Court, Delhi, dismissed the appeal against the Income Tax Appellate Tribunal's decision to set aside a penalty under Section 271(1)(c) of the Income Tax Act, 1961 for the assessment year 2001-02. The Court found that the Assessing Officer's assessment order did not show explicit satisfaction regarding concealment or inaccurate particulars, leading to the conclusion that no legal basis existed for initiating penalty proceedings. As a result, the Court held that no substantial question of law was raised, and the appeal was dismissed. Case-Laws Income Tax Fri, 14 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188782