Shri Manoj Beswal, by which he deleted the penalty imposed u/s.
271AAB of the Income-tax Act, 1961 (hereinafter referred ... accepting the returned income and penalty
proceedings were initiated u/s. 271AAB of the Act on the amount disclosed during
search
which he deleted the penalty imposed u/s. 271AAB of
the Income-tax Act, 1961 (hereinafter referred to as the "Act")..
2. Briefly ... assessee in the ROI) and penalty proceedings were initiated u/s. 271AAB of the Act on
the amount disclosed during search
imposed by the Assessing officer u/s 271AAB of the Income
Tax Act, 1961."
2 ITA No. 359/JP/2017
Shri Rajendra Kumar Gupta ... circumstances of the case, notice issued by
the Assessing officer u/s 271AAB of the Income tax Act is wrong
order dated 30.09.2015 u/s 271AAB of the
Income Tax Act, 1961 (in short 'the Act').
Heard both the parties. Case file perused ... been held that it is not mandatory to impose penalty u/s 271AAB in each and
every case even if the assessee has made
action imposing the penalt(ies) in issue; involving proceedings
u//s 271AAB of the Income Tax Act, 1961; in short 'the Act'. Relevant ... Assessing Officer's action in part imposing the
impugned u/s 271AAB penalt(ies) in relation to the search in question dated
erred in confirming the penalty u/s. 271AAB of the Act in
principle.
16
ITA.NOs. 4941, 4942 & 4943/MUM/2018
M/s Coast ... Counsel for the assessee submitted that the
penalty order passed u/s. 271AAB of the Act for the assessment year
under consideration
Indore dated 10.07.2018 which is arising out of the
order u/s 271AAB of the Income Tax Act 1961(In short ... penalty of Rs. 2,04,900/-
levied by the AO u/s 271AAB in respect of alleged unaccounted cash of Rs.
6,83,000/-. That
Income
T ax (Appeals)-5, Ludhiana upholding levy f
penalty u/s 271AAB at Rs.6,00,000/- is against ... appeal relates to
sustenance of penalty of Rs.6 lacs u/s 271AAB of the
Income Tax Act, 1961 (hereinafter referred
which he deleted the penalty imposed u/s.
271AAB of the Income-tax Act, 1961 (hereinafter referred to as the "Act")..
2. Briefly ... assessee in the ROI) and penalty proceedings were initiated u/s. 271AAB of the Act on
the amount disclosed during search
same has however, been erroneously initiated u/s.
271AAB(1A) of the Act which came into statute w.e.f. 15.12.2016. The ld.
PCIT therefore ... appeal set)
2. Copies of show cause notices issued u/s 274 /271AAB
