https://www.taxtmi.com/caselaws?id=185020 The penalty u/s.271(1)(c) of Rs. 75,79,740 was revoked as the assessment order was quashed by ITAT "A" Bench Ahmedabad, rendering the penalty invalid. The Tribunal emphasized the necessity of search initiation for the applicability of Section 153A of the IT Act, leading to the reopening of completed assessments. The decision highlights the legal principles governing the reopening of assessments in cases of search operations under the IT Act. en-us Tue, 30 Apr 2013 00:00:00 +0530 Thu, 28 Jul 2016 11:38:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185020 The penalty u/s.271(1)(c) of Rs. 75,79,740 was revoked as the assessment order was quashed by ITAT "A" Bench Ahmedabad, rendering the penalty invalid. The Tribunal emphasized the necessity of search initiation for the applicability of Section 153A of the IT Act, leading to the reopening of completed assessments. The decision highlights the legal principles governing the reopening of assessments in cases of search operations under the IT Act. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185020