https://www.taxtmi.com/caselaws?id=57238 The Tribunal held that the CIT(A) was not justified in sustaining the penalty of Rs. 2,20,061 under Section 271(1)(c) of the IT Act, 1961. The penalty was quashed due to lack of proper jurisdiction, failure to record specific satisfaction, and incorrect authority levying the penalty. The appeal was allowed, and the penalty was canceled. en-us Wed, 23 Feb 2005 00:00:00 +0530 Thu, 09 Dec 2010 10:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57238 The Tribunal held that the CIT(A) was not justified in sustaining the penalty of Rs. 2,20,061 under Section 271(1)(c) of the IT Act, 1961. The penalty was quashed due to lack of proper jurisdiction, failure to record specific satisfaction, and incorrect authority levying the penalty. The appeal was allowed, and the penalty was canceled. Case-Laws Income Tax Wed, 23 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57238