https://www.taxtmi.com/caselaws?id=189025 The ITAT allowed the appeal filed by the Assessee, leading to the deletion of the penalty of Rs. 21,230 imposed under section 271(1)(c) of the Income Tax Act for Assessment Year 2008-09. The ITAT held that since the search was initiated after 01.06.2007, penalty could only be levied under section 271 AAA, not under section 271(1)(c). Therefore, the Ld.CIT(A) was deemed unjustified in confirming the penalty, resulting in the penalty being deleted. en-us Fri, 19 Jul 2013 00:00:00 +0530 Sat, 24 Dec 2016 13:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189025 The ITAT allowed the appeal filed by the Assessee, leading to the deletion of the penalty of Rs. 21,230 imposed under section 271(1)(c) of the Income Tax Act for Assessment Year 2008-09. The ITAT held that since the search was initiated after 01.06.2007, penalty could only be levied under section 271 AAA, not under section 271(1)(c). Therefore, the Ld.CIT(A) was deemed unjustified in confirming the penalty, resulting in the penalty being deleted. Case-Laws Income Tax Fri, 19 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189025