https://www.taxtmi.com/caselaws?id=286325 The penalties imposed under section 271AAB for AY 2013-14 and AY 2014-15 were deemed void ab initio and deleted by the ITAT. The court held that the penalties were invalid as they were imposed without prior approval under section 274(2) of the Act. Consequently, both appeals by the Assessee were allowed, and the penalties for both assessment years were set aside. en-us Mon, 22 Apr 2019 00:00:00 +0530 Fri, 21 Feb 2020 10:21:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286325 The penalties imposed under section 271AAB for AY 2013-14 and AY 2014-15 were deemed void ab initio and deleted by the ITAT. The court held that the penalties were invalid as they were imposed without prior approval under section 274(2) of the Act. Consequently, both appeals by the Assessee were allowed, and the penalties for both assessment years were set aside. Case-Laws Income Tax Mon, 22 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286325