https://www.taxtmi.com/caselaws?id=309948 The High Court held that the penalty order under Section 271D of the Income Tax Act, 1961 was invalid as the assessing officer failed to record satisfaction regarding the violation of Section 269SS, as mandated by Supreme Court precedent. The court set aside the order and remanded the matter for a fresh decision, emphasizing the necessity of recorded satisfaction for penalty proceedings under Sections 271D and 271E. The writ petition was allowed, with no costs awarded. en-us Mon, 26 Dec 2022 00:00:00 +0530 Wed, 27 Sep 2023 21:13:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309948 The High Court held that the penalty order under Section 271D of the Income Tax Act, 1961 was invalid as the assessing officer failed to record satisfaction regarding the violation of Section 269SS, as mandated by Supreme Court precedent. The court set aside the order and remanded the matter for a fresh decision, emphasizing the necessity of recorded satisfaction for penalty proceedings under Sections 271D and 271E. The writ petition was allowed, with no costs awarded. Case-Laws Income Tax Mon, 26 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309948