emphasized that
even in the cases where penalty proceedings were initiated u/s
271AAA (i.e. for AYs 2011-12 & 2012-13), notices akin ... entitled to
immunity from penalty as provided in sub section (2) of
section 271AAA .However, these penalties were levied and
confirmed only on the ground
immunity provided in clause (i) and (ii) of sub
section(2) of section 271AAA of the Act. We have keenly gone through the
abovestatement ... compliance of provisions of clause (i) and (ii) to sub
section (2) to section 271AAA of the Act. Rather he has confirmed the
penalty
section 271(1)(c) of the Act. The assessee,
therefore, is not show caused for levy of penalty under the
provisions of section 271AAA , rather ... appellant
though rendered in context of penalties levied u/s 271(1)(c) or u/s
271AAA are equally applicable in respect of penalties levied
framed against the appellant.
1.2.1] The provision of sub-section (4) of section 271AAA of the Income-Tax
Act, 1961 provides that provisions of section ... entirely different as compared
to Explanation 5 to section 271 .
13. Sub-section (2) of section 271AAA thus while retaining the other
requirements of avoiding
light of the amended
provisions contained under sub-section (2) and (3) of section 271AAA , the penalty
in this case, if at all leviable ... 271AAA (1)
and not u/s 271(1)(c) as has categorically been provided in sub-section (3) of
section 271AAA . Intention of the legislative
271AAA and provisions of section 271(1)(c) are mutually exclusive in
view of sub-section (3) of section 271AAA . Therefore, penalty cannot be
levied ... search penalty can be levied under
both the sections i.e. u/s 271AAA and under section
issued notice for
penalty under section 271(1)(c) of the Income Tax Act, 1961.
No notice under section 271AAA of the Income ... provisions Sections 274 and 275 shall, in so far as may be,
apply in relation to penalty referred to in this Section".
Section
notice for
Assessment Year 2011-12:-
NOTICE UNDER SECTION 274 READ WITH SECTION 271AAA OF THE
INCOME TAX ACT, 1961
PAN- AADCK0722H
OFFICE ... invited our attention to the letter / notice issued u/s 274
read with section 271AAA of the Act dated 13.1.2014, which for the sake
account u/s 132A of the Act. The opening sentence of Section 153A
of the Act, overrides the provisions of Section ... levied under the provisions of section 271(1)(c) or the provisions of
section 271AAA of the Act. Similarly, in the order levying penalty
admitted fact that notice issued under Section 274 of the Act read
with Section 271AAA of the Act has not specified the limb in respect ... Section
274 and 275 of the Act are applicable in relation to the penalty referred to the said
Section has given in Section 271AAA
