https://www.taxtmi.com/caselaws?id=468638 Retrospective insertion of section 271(1B) by the Finance Act, 2008 was treated as affecting the objection that no satisfaction had been recorded in the assessment order for penalty under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal had cancelled the penalty only on that preliminary ground without examining the merits. In light of the amendment, that objection could not conclude the matter, and the penalty issue had to be considered substantively. The matter was therefore remitted to the Tribunal for fresh decision on penalty under section 271(1)(c). en-us Mon, 25 Aug 2008 00:00:00 +0530 Fri, 15 May 2026 13:03:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468638 Retrospective insertion of section 271(1B) by the Finance Act, 2008 was treated as affecting the objection that no satisfaction had been recorded in the assessment order for penalty under section 271(1)(c) of the Income-tax Act, 1961. The Tribunal had cancelled the penalty only on that preliminary ground without examining the merits. In light of the amendment, that objection could not conclude the matter, and the penalty issue had to be considered substantively. The matter was therefore remitted to the Tribunal for fresh decision on penalty under section 271(1)(c). Case-Laws Income Tax Mon, 25 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468638