https://www.taxtmi.com/caselaws?id=409964 Penalty under section 271AAB of the Income-tax Act could not be imposed unless a search had been initiated against the assessee under section 132. The court read the provision as applying only to the person on whom the search was conducted, and held that proceedings arising through section 153C after a search in another concern did not substitute for the statutory requirement of a search against the assessee. The Tribunal's view was found consistent with the plain language of the provision, and the challenge to its order was rejected. en-us Mon, 12 Jul 2021 00:00:00 +0530 Tue, 09 Aug 2022 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409964 Penalty under section 271AAB of the Income-tax Act could not be imposed unless a search had been initiated against the assessee under section 132. The court read the provision as applying only to the person on whom the search was conducted, and held that proceedings arising through section 153C after a search in another concern did not substitute for the statutory requirement of a search against the assessee. The Tribunal's view was found consistent with the plain language of the provision, and the challenge to its order was rejected. Case-Laws Income Tax Mon, 12 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409964