https://www.taxtmi.com/caselaws?id=55808 Penalty under section 273(c) could not be sustained because the Income-tax Officer had not recorded satisfaction during the assessment proceedings that the assessee had defaulted under section 212(3-A). The order did not show any contemporaneous satisfaction or direction to issue notice for that default, and the mere issue of a show-cause notice with the demand notice was held insufficient. The statutory condition precedent for initiating penalty proceedings was therefore not met, so the penalty was unjustified. en-us Wed, 14 Dec 1977 00:00:00 +0530 Tue, 30 Nov 2010 12:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55808 Penalty under section 273(c) could not be sustained because the Income-tax Officer had not recorded satisfaction during the assessment proceedings that the assessee had defaulted under section 212(3-A). The order did not show any contemporaneous satisfaction or direction to issue notice for that default, and the mere issue of a show-cause notice with the demand notice was held insufficient. The statutory condition precedent for initiating penalty proceedings was therefore not met, so the penalty was unjustified. Case-Laws Income Tax Wed, 14 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55808