https://www.taxtmi.com/caselaws?id=794677 Penalty under section 271E was found unsustainable where the assessment order under section 143(3) accepted the returned income but did not record any satisfaction that the assessee had violated section 269T or that penalty proceedings should be initiated. The absence of such recorded satisfaction meant the foundational requirement for commencing penalty action was missing, so the penalty was directed to be deleted. en-us Mon, 06 Jul 2026 00:00:00 +0530 Thu, 09 Jul 2026 08:35:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794677 Penalty under section 271E was found unsustainable where the assessment order under section 143(3) accepted the returned income but did not record any satisfaction that the assessee had violated section 269T or that penalty proceedings should be initiated. The absence of such recorded satisfaction meant the foundational requirement for commencing penalty action was missing, so the penalty was directed to be deleted. Case-Laws Income Tax Mon, 06 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794677