https://www.taxtmi.com/caselaws?id=13392 The High Court dismissed the appeal, affirming the ITAT's decision to cancel the penalty under section 271(1)(c) for lack of recorded satisfaction by the Assessing Officer. The court found no substantial question of law, emphasizing the necessity for proper application of mind and satisfaction recording. Each party bore their own costs. en-us Thu, 03 Mar 2005 00:00:00 +0530 Thu, 30 May 2024 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13392 The High Court dismissed the appeal, affirming the ITAT's decision to cancel the penalty under section 271(1)(c) for lack of recorded satisfaction by the Assessing Officer. The court found no substantial question of law, emphasizing the necessity for proper application of mind and satisfaction recording. Each party bore their own costs. Case-Laws Income Tax Thu, 03 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13392