https://www.taxtmi.com/caselaws?id=55917 The Tribunal held that the penalty under s. 273(2)(aa) of the IT Act, 1961 was legally unsustainable due to the lack of recorded satisfaction by the ITO and the failure to provide the assessee with notice and an opportunity to be heard. Consequently, the order of the CIT(A) was set aside, and the penalty under s. 273(2)(aa) was also set aside, resulting in the allowance of the appeal. en-us Fri, 10 May 1991 00:00:00 +0530 Tue, 30 Nov 2010 16:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55917 The Tribunal held that the penalty under s. 273(2)(aa) of the IT Act, 1961 was legally unsustainable due to the lack of recorded satisfaction by the ITO and the failure to provide the assessee with notice and an opportunity to be heard. Consequently, the order of the CIT(A) was set aside, and the penalty under s. 273(2)(aa) was also set aside, resulting in the allowance of the appeal. Case-Laws Income Tax Fri, 10 May 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55917