https://www.taxtmi.com/caselaws?id=791538 Penalty under Section 271D could not be sustained because the assessment order accepted the returned income, made no quantum addition, and recorded no satisfaction for initiating penalty proceedings. The Tribunal held that penalty for breach of Section 269SS must have a valid jurisdictional foundation in the assessment order itself; a separate show-cause notice issued later could not cure the absence of such satisfaction. On that basis, the penalty order was set aside and the assessee's appeal succeeded. en-us Mon, 11 May 2026 00:00:00 +0530 Wed, 13 May 2026 08:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791538 Penalty under Section 271D could not be sustained because the assessment order accepted the returned income, made no quantum addition, and recorded no satisfaction for initiating penalty proceedings. The Tribunal held that penalty for breach of Section 269SS must have a valid jurisdictional foundation in the assessment order itself; a separate show-cause notice issued later could not cure the absence of such satisfaction. On that basis, the penalty order was set aside and the assessee's appeal succeeded. Case-Laws Income Tax Mon, 11 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791538