https://www.taxtmi.com/caselaws?id=16482 The High Court ruled in favor of the assessee, holding that penalties under sections 271(1)(a) and 273(1)(b) of the Income-tax Act were not sustainable due to the absence of recorded satisfaction by the Income-tax Officer. The Court emphasized adherence to legal procedures and precedents in determining the validity of penalties and eligibility for amnesty schemes, ultimately granting immunity to the assessee under the amnesty scheme. en-us Wed, 08 Jul 1998 00:00:00 +0530 Tue, 08 Sep 2009 11:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16482 The High Court ruled in favor of the assessee, holding that penalties under sections 271(1)(a) and 273(1)(b) of the Income-tax Act were not sustainable due to the absence of recorded satisfaction by the Income-tax Officer. The Court emphasized adherence to legal procedures and precedents in determining the validity of penalties and eligibility for amnesty schemes, ultimately granting immunity to the assessee under the amnesty scheme. Case-Laws Income Tax Wed, 08 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16482