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2009 (9) TMI 656 - HC - Income TaxWhether order passed by the Tribunal before the insertion of section 271(1B) to the statute by the Finance Bill, 2008, cannot be said to be erroneous and the amended provisions of section 271(1B) are not applicable in the cases decided prior to the insertion of this amendment - Penalty proceedings under section 271(1)(c) - held that whether satisfaction existed and was not recorded during assessment was not a matter of form but of substance and the absence of satisfaction could not be inferred from the omission to use particular words in the order of assessment. The same could be inferred from overall findings in the order of the assessment. appeal is allowed and the matter is remitted to the Tribunal for fresh decision on the issue of penalty, in accordance with law.
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