https://www.taxtmi.com/caselaws?id=371519 The Tribunal allowed the appeal, quashed the penalty order, and directed the AO to delete the penalty imposed u/s.271(1)(c) of the Income Tax Act due to the deficiency in valid satisfaction recorded by the Assessing Officer. The judgment emphasized the legal necessity of specifying the correct limb of clause (c) of section 271(1) at the initiation and levy stages of penalty proceedings to ensure the sustainability of penalties under the Act. en-us Fri, 30 Nov 2018 00:00:00 +0530 Wed, 05 Dec 2018 06:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371519 The Tribunal allowed the appeal, quashed the penalty order, and directed the AO to delete the penalty imposed u/s.271(1)(c) of the Income Tax Act due to the deficiency in valid satisfaction recorded by the Assessing Officer. The judgment emphasized the legal necessity of specifying the correct limb of clause (c) of section 271(1) at the initiation and levy stages of penalty proceedings to ensure the sustainability of penalties under the Act. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371519