AO’s failure to Record Reasons for Subjective Satisfaction u/s 271 E: Madras HC sets aside Penalty Order [Read Order]
In a recent judgement, the Assessing Officer had failed to document the reasons for arriving at a subjective satisfaction necessary to initiate penalty proceedings under Section 271E of the Act.
The Madras High Court set aside the penalty order under Section 271E of the Income Tax Act, 1961, due to the Assessing Officer’s failure to record reasons for subjective satisfaction.The petitioner has filed writ petitions challenging the orders issued by the 1st Respondent under Section 271D of the Income Tax Act, 1961, dated April 29,…
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