https://www.taxtmi.com/caselaws?id=403151 The ITAT concluded that the penalty under Section 271AAB could not be sustained as the assessee was not subjected to a search under Section 132. Consequently, the penalty levied for both assessment years was deleted. The other grounds raised by the assessee were not addressed as the primary ground was sufficient for the decision. Both appeals of the assessee were allowed. en-us Tue, 19 Jan 2021 00:00:00 +0530 Wed, 20 Jan 2021 14:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403151 The ITAT concluded that the penalty under Section 271AAB could not be sustained as the assessee was not subjected to a search under Section 132. Consequently, the penalty levied for both assessment years was deleted. The other grounds raised by the assessee were not addressed as the primary ground was sufficient for the decision. Both appeals of the assessee were allowed. Case-Laws Income Tax Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403151