ITAT: Section 271D Penalty Cannot Survive Without AO's Recorded Satisfaction:

ITAT held that a penalty under Section 271D cannot be sustained without the Assessing Officer's recorded satisfaction during assessment proceedings and also found the proceedings to be time-barred.

ITAT Quashes 271D Penalty for Lack of AO's Satisfaction

Vanshika verma

Jul 13, 2026

Last update on Jul 13, 2026

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ITAT: Section 271D Penalty Cannot Survive Without AO's Recorded Satisfaction

ITAT held that a penalty under Section 271D cannot be sustained without the Assessing Officer's recorded satisfaction during assessment proceedings and also found the proceedings to be time-barred.

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Vanshika verma

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Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.