https://www.taxtmi.com/caselaws?id=356368 The Tribunal allowed the assessee's appeals for the assessment years 2001-02 to 2004-05, deleting the penalties levied under section 271(1)(c) of the Income Tax Act, 1961. The decision emphasized the necessity of clear and specific satisfaction by the Assessing Officer when initiating penalty proceedings, ultimately resulting in the deletion of the penalty. en-us Mon, 26 Feb 2018 00:00:00 +0530 Mon, 05 Mar 2018 07:13:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356368 The Tribunal allowed the assessee's appeals for the assessment years 2001-02 to 2004-05, deleting the penalties levied under section 271(1)(c) of the Income Tax Act, 1961. The decision emphasized the necessity of clear and specific satisfaction by the Assessing Officer when initiating penalty proceedings, ultimately resulting in the deletion of the penalty. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356368