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2018 (6) TMI 1281 - ITAT DELHIPenalty u/s. 271(1)(b) - validity of notice - non recording of satisfaction - Held that:- In case of any failure to submit desired details, penalty would be levied but the necessary statutory satisfaction u/s. 271(1) of the I.T. Act that the assessee has failed to comply with the notices and the AO was satisfied to initiate the penalty proceedings has not been recorded anywhere. As further submitted that a proposal to initiate penalty proceedings is not equivalent to recording a satisfaction which is the post failure and not with the a preposition “if failed to”. Also on perusing the order sheets entries do not show issuance of any notice u/s. 274 read with Section 271(1) of the Act or of recording of any such satisfaction. The penalty imposed by the AO and confirmed by the Ld. CIT(A) is not sustainable in the eyes of law, hence, the same is deleted and appeal of the Assessee stands allowed. Following the consistent view taken in assessment year 2008-09 as aforesaid, the penalty involved in other appeals in respect of assessment years 2009-10 to 2014-15 also stand deleted - Decided in favour of assessee.
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