https://www.taxtmi.com/caselaws?id=8930 The court held that the penalty proceedings under section 271(1)(c) were validly commenced, ruling in favor of the revenue. It was determined that the Income-tax Officer's satisfaction in the assessment order was sufficient to initiate penalty proceedings, negating the need for a separate notice before referral to the Inspecting Assistant Commissioner. The penalty order was upheld, and the assessee was directed to pay costs. The court indicated that other aspects of the case could be addressed when the matter returns to the Tribunal. en-us Thu, 09 Dec 1971 00:00:00 +0530 Wed, 17 Jun 2009 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8930 The court held that the penalty proceedings under section 271(1)(c) were validly commenced, ruling in favor of the revenue. It was determined that the Income-tax Officer's satisfaction in the assessment order was sufficient to initiate penalty proceedings, negating the need for a separate notice before referral to the Inspecting Assistant Commissioner. The penalty order was upheld, and the assessee was directed to pay costs. The court indicated that other aspects of the case could be addressed when the matter returns to the Tribunal. Case-Laws Income Tax Thu, 09 Dec 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8930