https://www.taxtmi.com/caselaws?id=389988 The court allowed the writ petition, quashing the order proposing penalty under Section 27(1)(c) of the Income Tax Act for the assessment year 2009-10. It emphasized the necessity of the Assessing Officer's satisfaction for initiating penalties and held that the Commissioner cannot substitute their satisfaction for that of the Assessing Officer. The court referred to precedent and stressed the importance of upholding final decisions, particularly when additions to income are contested. As a result, the impugned show cause notice was annulled, and the related miscellaneous petition was closed without costs. en-us Thu, 05 Dec 2019 00:00:00 +0530 Fri, 20 Dec 2019 13:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389988 The court allowed the writ petition, quashing the order proposing penalty under Section 27(1)(c) of the Income Tax Act for the assessment year 2009-10. It emphasized the necessity of the Assessing Officer's satisfaction for initiating penalties and held that the Commissioner cannot substitute their satisfaction for that of the Assessing Officer. The court referred to precedent and stressed the importance of upholding final decisions, particularly when additions to income are contested. As a result, the impugned show cause notice was annulled, and the related miscellaneous petition was closed without costs. Case-Laws Income Tax Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389988