https://www.taxtmi.com/caselaws?id=391889 The High Court held that the penalty levied under section 271(1)(c) of the Income Tax Act was deleted as the Assessing Officer did not establish satisfaction regarding concealment or inaccurate particulars, crucial for initiating penalty proceedings. The Court deemed the notice issued to the assessee as defective and emphasized the necessity of a clear basis for satisfaction in such notices. Relying on legal precedents, the Court dismissed the appeal, stating no substantial question of law arose, in line with previous decisions with similar facts. en-us Mon, 03 Feb 2020 00:00:00 +0530 Sat, 08 Feb 2020 17:24:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391889 The High Court held that the penalty levied under section 271(1)(c) of the Income Tax Act was deleted as the Assessing Officer did not establish satisfaction regarding concealment or inaccurate particulars, crucial for initiating penalty proceedings. The Court deemed the notice issued to the assessee as defective and emphasized the necessity of a clear basis for satisfaction in such notices. Relying on legal precedents, the Court dismissed the appeal, stating no substantial question of law arose, in line with previous decisions with similar facts. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391889