PRAYING TO
QUASH THE PENALTY ORDER PASSED BY THE
RESPONDENT UNDER SECTION 271AAB OF THE INCOME
TAX ACT, 1961 DATED 29.03.2022 FOR THE ASSESSMENT ... ORDER
The petitioner has impugned the penalty order
dated 29.03.2022 under Section 271AAB of the Income
Tax Act, 1961 [for short
transaction;
and
(e) the amount of undisclosed income referred
to in section 271AAB.
(7) The penalty referred to in sub-section (1)
shall
CONSTITUTION OF INDIA, PRAYING TO QUASHING THE
PENALTY ORDER UNDER SECTION 271AAB OF THE ACT DATED
11/10/2017 BEARING F.NO.AFMPR3580F/ACIT ... Petitioner has sought for setting aside of the penalty
order under Section 271AAB of the Income Tax Act, 1961
dated 11.10.2017 passed by respondent
certiorari quashing the penalty show cause
notice dated 05.03.2025 issued under section 271AAB
of the Act for the assessment year 2023-24 by the
Respondent ... bearing DIN and Notice No.
ITBA/PNL/S/271AAB/2024-25/1074033122(1) vide
Annexure-A3.
4. Counsel for the respective parties urged several
contentions
under section 271AAB of the act based on
observation that the clauses of penalty have
not been correctly mentioned in showcause
notice proposing to levy ... assessee
admitting the existence of undisclosed
income, the penalty under section
271AAB(1A) was accordingly levied?
3. Whether on the facts and in the
circumstances
