https://www.taxtmi.com/caselaws?id=390221 The Tribunal allowed the appeal, ruling that the penalty imposed under section 271(1)(c) of the Income Tax Act was not sustainable due to inadequate satisfaction recorded by the Assessing Officer. The Tribunal emphasized the necessity of valid satisfaction for initiating penalty proceedings and the importance of complying with legal requirements for penalty imposition. The penalty of Rs. 6,19,080 was deleted. en-us Tue, 17 Dec 2019 00:00:00 +0530 Thu, 26 Dec 2019 06:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390221 The Tribunal allowed the appeal, ruling that the penalty imposed under section 271(1)(c) of the Income Tax Act was not sustainable due to inadequate satisfaction recorded by the Assessing Officer. The Tribunal emphasized the necessity of valid satisfaction for initiating penalty proceedings and the importance of complying with legal requirements for penalty imposition. The penalty of Rs. 6,19,080 was deleted. Case-Laws Income Tax Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390221