https://www.taxtmi.com/caselaws?id=353013 The Tribunal found that the assessing officer failed to properly record satisfaction for initiating and imposing the penalty under section 271(1)(c) in the assessment order. It was concluded that without such explicit direction, the penalty was liable to be deleted. The Tribunal allowed the appeal, highlighting the inadequacy in recording satisfaction for penalty initiation and the debatable nature of the issues, ultimately ruling in favor of the assessee. en-us Wed, 20 Dec 2017 00:00:00 +0530 Tue, 26 Dec 2017 08:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353013 The Tribunal found that the assessing officer failed to properly record satisfaction for initiating and imposing the penalty under section 271(1)(c) in the assessment order. It was concluded that without such explicit direction, the penalty was liable to be deleted. The Tribunal allowed the appeal, highlighting the inadequacy in recording satisfaction for penalty initiation and the debatable nature of the issues, ultimately ruling in favor of the assessee. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353013