https://www.taxtmi.com/article/detailed?id=17357 Penalties for cash acceptance or repayment transactions require recorded satisfaction in the latest operative assessment order that the relevant statutory prohibition has been violated and that penalty action is contemplated. Where an earlier assessment is set aside or annulled, satisfaction recorded in that assessment does not survive as the basis for penalty. A fresh, revised, reassessment, or de novo assessment must independently record the requisite satisfaction. Separate penalty proceedings do not dispense with this jurisdictional requirement. en-us Mon, 07 Sep 2026 09:13:43 +0530 Mon, 07 Sep 2026 09:13:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17357 Penalties for cash acceptance or repayment transactions require recorded satisfaction in the latest operative assessment order that the relevant statutory prohibition has been violated and that penalty action is contemplated. Where an earlier assessment is set aside or annulled, satisfaction recorded in that assessment does not survive as the basis for penalty. A fresh, revised, reassessment, or de novo assessment must independently record the requisite satisfaction. Separate penalty proceedings do not dispense with this jurisdictional requirement. Articles Income Tax Mon, 07 Sep 2026 09:13:43 +0530 https://www.taxtmi.com/article/detailed?id=17357