https://www.taxtmi.com/caselaws?id=464758 Penalty under section 271(1)(c) was deleted because the Assessing Officer had not recorded clear satisfaction on whether concealment of income or furnishing of inaccurate particulars was alleged, and the show-cause notice initiating penalty proceedings was not valid. The recorded satisfaction related only to denial of exemption under section 10(23C)(vi) and did not extend clearly to the other additions. The High Court found no infirmity in the Tribunal's reasoning, upheld deletion of the penalty, and held that no substantial question of law arose. en-us Wed, 31 Jan 2024 00:00:00 +0530 Wed, 12 Nov 2025 19:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464758 Penalty under section 271(1)(c) was deleted because the Assessing Officer had not recorded clear satisfaction on whether concealment of income or furnishing of inaccurate particulars was alleged, and the show-cause notice initiating penalty proceedings was not valid. The recorded satisfaction related only to denial of exemption under section 10(23C)(vi) and did not extend clearly to the other additions. The High Court found no infirmity in the Tribunal's reasoning, upheld deletion of the penalty, and held that no substantial question of law arose. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464758