submitted that charging section is
unambiguous. Nothing contained in Sub-section (1) of
Section 271-AAA would apply, if the assessee were to
comply with ... machinery Section
6
has thus failed and therefore, penalty cannot be
imposed.
11. Sub-section (1) of Section 271-AAA of the Act
reads
income found during the course of search -
271 AAB Introduced : Under the existing provisions of section 271 AAA of the
Income-tax Act, no penalty ... initiated under section 132 on or after 1st June. 2007, the assessee shall be
liable to pay " appears in section 271 AAA, where however
imposed, the appellant has fulfilled the conditions of sub section 2 of section
271 AAA and hence entitled for immunity from penalty.
4. That ... same was accepted vide
assessment order u/s 143(3) dated 30.03.2014. Section 271 AAA reads as under
"Insertion of new section 271-AAA
which such income was derived.
6.6. For sake of ready reference, Section 271 AAA of the Act reads as
under :
"271AAA. Penalty where search ... conditions as mentioned in clause (iii) of sub-
section (2) of section 271 AAA of the Act and hence, he was held to
have defaulted
provisions of sub-section (2) of section
271AAA of the income- Tax Act, 1961 , the provisions of sub section (1) of section
271AAA , which provides ... until the
all conditions in sub-section (2) of section 271AAA are fulfilled. The provisions of
section 271 AAA states as under-
"271AAA
2583 & 2584/Bang/2018
conditions specified u/s 271 AAA to exempt himself
from the rigor of this penalty.
6. The learned ... years under consideration.
The assessee is challenging the applicability of section 271 AAA of
the act for the assessment year 2008-09. For assessment year
posed to the
Assessee by drawing her attention to the provisions of section
271AAA of the Act. Therefore, in view of the jurisdictional High
Court ... been put to the Assessee by
drawing his attention to Section 271 AAA of the Act asking him to specify the
manner in which
search in any form described therein the definition of un-disclosed income u/s 271AAA of the Act.
It is noted that based ... assessee in the Return of Income, the penalty u/s. 271 `AAA of the Act cannot be
legally sustained. So, the assessee succeeds
Gurgaon
arising from penalty order passed u/s 271AAA of the Income Tax
Act for the assessment year 2013-14. The assessee has raised
following ... confirming the imposition of penalty u/s 271
AAA amounted to Rs. 1,07,244/- is bad in law and against
the facts and circumstances
search in
any form described therein the definition of un-disclosed income u/s 271AAA of the
Act. It is noted that based ... assessee in the Return of Income, the penalty u/s. 271`AAA of the Act
cannot be legally sustained. So, the assessee succeeds
