https://www.taxtmi.com/caselaws?id=432619 The Tribunal allowed the appeal, setting aside the penalty order under section 271D due to the absence of recorded satisfaction for penalty initiation. The appellant's arguments regarding excessive penalties, unexamined details by tax authorities, and time-barred penalty orders were considered, leading to the conclusion that the penalties were unjustified. The Tribunal emphasized the importance of recording satisfaction before levying penalties, aligning with legal precedents and ultimately ruling in favor of the appellant. en-us Tue, 03 Jan 2023 00:00:00 +0530 Mon, 09 Jan 2023 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432619 The Tribunal allowed the appeal, setting aside the penalty order under section 271D due to the absence of recorded satisfaction for penalty initiation. The appellant's arguments regarding excessive penalties, unexamined details by tax authorities, and time-barred penalty orders were considered, leading to the conclusion that the penalties were unjustified. The Tribunal emphasized the importance of recording satisfaction before levying penalties, aligning with legal precedents and ultimately ruling in favor of the appellant. Case-Laws Income Tax Tue, 03 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432619