https://www.taxtmi.com/caselaws?id=14813 The HC affirmed that penalty proceedings under s.271 require the assessing authority to record its satisfaction; absent such a finding in the assessment order, initiation of penalty cannot be presumed. The Tribunal rightly rejected the Department's s.256(1) application, and the Department's petition under s.256(2) was dismissed. Consequently, the penalty was not sustained and the challenge to the Tribunal's decision fails; dismissal was ordered without costs. en-us Thu, 08 Oct 1998 00:00:00 +0530 Thu, 14 May 2026 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14813 The HC affirmed that penalty proceedings under s.271 require the assessing authority to record its satisfaction; absent such a finding in the assessment order, initiation of penalty cannot be presumed. The Tribunal rightly rejected the Department's s.256(1) application, and the Department's petition under s.256(2) was dismissed. Consequently, the penalty was not sustained and the challenge to the Tribunal's decision fails; dismissal was ordered without costs. Case-Laws Income Tax Thu, 08 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14813