https://www.taxtmi.com/caselaws?id=794156 Penalty under section 271D could not be sustained because the assessment order under section 143(3) contained no recorded satisfaction for initiation of penalty proceedings. The assessment was completed by accepting the returned income, with no addition made, and the absence of such satisfaction in the assessment order meant the statutory precondition for penalty was not met. The penalty was therefore directed to be deleted, and the assessee succeeded with the penalty order annulled. en-us Thu, 25 Jun 2026 00:00:00 +0530 Wed, 01 Jul 2026 08:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794156 Penalty under section 271D could not be sustained because the assessment order under section 143(3) contained no recorded satisfaction for initiation of penalty proceedings. The assessment was completed by accepting the returned income, with no addition made, and the absence of such satisfaction in the assessment order meant the statutory precondition for penalty was not met. The penalty was therefore directed to be deleted, and the assessee succeeded with the penalty order annulled. Case-Laws Income Tax Thu, 25 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794156