https://www.taxtmi.com/caselaws?id=22683 The court ruled in favor of the assessee, quashing the penalty imposed under section 271(1)(c) of the Income-tax Act. The court emphasized the necessity of the Income-tax Officer's satisfaction for penalty imposition, which was not evident in this case. As the Officer did not express satisfaction during the assessment proceedings, the court found that penalties under section 271(1)(c) were not applicable. The decision referenced the requirement for satisfaction before penalty imposition, leading to the cancellation of the penalty without costs awarded. en-us Fri, 22 Feb 1991 00:00:00 +0530 Sat, 12 Dec 2009 12:56:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22683 The court ruled in favor of the assessee, quashing the penalty imposed under section 271(1)(c) of the Income-tax Act. The court emphasized the necessity of the Income-tax Officer's satisfaction for penalty imposition, which was not evident in this case. As the Officer did not express satisfaction during the assessment proceedings, the court found that penalties under section 271(1)(c) were not applicable. The decision referenced the requirement for satisfaction before penalty imposition, leading to the cancellation of the penalty without costs awarded. Case-Laws Income Tax Fri, 22 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22683