https://www.taxtmi.com/caselaws?id=389155 The Tribunal allowed the appeal, deleting the penalty levied under Section 271AAB as no search under Section 132 was conducted against the assessee. The judgment emphasized that the penalty under Section 271AAB can only be levied if a search is initiated under Section 132, which was not the case here. Therefore, the penalty was deemed invalid, and other grounds were not adjudicated as the primary jurisdictional issue was decided in favor of the assessee. en-us Fri, 29 Nov 2019 00:00:00 +0530 Mon, 02 Dec 2019 16:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389155 The Tribunal allowed the appeal, deleting the penalty levied under Section 271AAB as no search under Section 132 was conducted against the assessee. The judgment emphasized that the penalty under Section 271AAB can only be levied if a search is initiated under Section 132, which was not the case here. Therefore, the penalty was deemed invalid, and other grounds were not adjudicated as the primary jurisdictional issue was decided in favor of the assessee. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389155