https://www.taxtmi.com/highlights?id=101382 Recording clear satisfaction in the assessment order was treated as a jurisdictional requirement before penalty for alleged cash receipts could be initiated; a bare reference to penalty proceedings was insufficient. The alleged contravention also had to be proved transaction-wise with cogent independent evidence identifying the payer, payee, amount, date and threshold breach, and seized data or estimated income alone were not enough in quasi-criminal penalty proceedings. The levy was further found unreasonable where the assessee had disclosed additional income and tax was already paid, so the penalties were deleted for want of jurisdiction and proof. en-us Sat, 04 Jul 2026 08:15:43 +0530 Sat, 04 Jul 2026 08:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101382 Recording clear satisfaction in the assessment order was treated as a jurisdictional requirement before penalty for alleged cash receipts could be initiated; a bare reference to penalty proceedings was insufficient. The alleged contravention also had to be proved transaction-wise with cogent independent evidence identifying the payer, payee, amount, date and threshold breach, and seized data or estimated income alone were not enough in quasi-criminal penalty proceedings. The levy was further found unreasonable where the assessee had disclosed additional income and tax was already paid, so the penalties were deleted for want of jurisdiction and proof. Highlights Income Tax Sat, 04 Jul 2026 08:15:43 +0530 https://www.taxtmi.com/highlights?id=101382