https://www.taxtmi.com/caselaws?id=351801 The Allahabad HC upheld penalty orders under Section 271AAB of the Income Tax Act. The case involved penalty notices issued under Section 274 read with Section 271, where search proceedings had been initiated. The court distinguished between penalties under Section 271AAB and Section 271(1)(c), noting that no proceedings under Section 271(1)(c) were initiated by the assessing officer during assessment proceedings under Section 143(3). The HC found the penalty proceedings under Section 271AAB were justified and initiated in accordance with law. The court set aside the ITAT's order and restored the penalty orders passed by the assessing authority and confirmed by the CIT (Appeals). The decision favored the revenue department, affirming the validity of the penalty proceedings. en-us Mon, 27 Nov 2017 00:00:00 +0530 Mon, 21 Jul 2025 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351801 The Allahabad HC upheld penalty orders under Section 271AAB of the Income Tax Act. The case involved penalty notices issued under Section 274 read with Section 271, where search proceedings had been initiated. The court distinguished between penalties under Section 271AAB and Section 271(1)(c), noting that no proceedings under Section 271(1)(c) were initiated by the assessing officer during assessment proceedings under Section 143(3). The HC found the penalty proceedings under Section 271AAB were justified and initiated in accordance with law. The court set aside the ITAT's order and restored the penalty orders passed by the assessing authority and confirmed by the CIT (Appeals). The decision favored the revenue department, affirming the validity of the penalty proceedings. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351801