https://www.taxtmi.com/caselaws?id=792588 Penalty under Section 271D requires proper initiation based on a recorded satisfaction and a finding of violation of Section 269SS in the assessment order. The High Court set aside the penalty because the assessment order contained neither. In the Special Leave Petition, the Supreme Court noted a gross delay of 388 days that was not satisfactorily explained and, in any event, found no ground to interfere with the High Court's order, so the petition was dismissed on delay and on merits. en-us Tue, 26 May 2026 00:00:00 +0530 Sat, 30 May 2026 08:29:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792588 Penalty under Section 271D requires proper initiation based on a recorded satisfaction and a finding of violation of Section 269SS in the assessment order. The High Court set aside the penalty because the assessment order contained neither. In the Special Leave Petition, the Supreme Court noted a gross delay of 388 days that was not satisfactorily explained and, in any event, found no ground to interfere with the High Court's order, so the petition was dismissed on delay and on merits. Case-Laws Income Tax Tue, 26 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792588