https://www.taxtmi.com/caselaws?id=409964 The court upheld the Tribunal's decision to cancel the penalty imposed under Section 271AAB of the Income Tax Act, 1961, as the search was not conducted against the assessee under Section 132 of the Act. The court emphasized that the penalty could only be imposed if a search was initiated against the assessee, in accordance with the law. The court found no substantial question of law and dismissed the appeal, highlighting the consistent legal position across various Tribunal judgments. 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 The court upheld the Tribunal's decision to cancel the penalty imposed under Section 271AAB of the Income Tax Act, 1961, as the search was not conducted against the assessee under Section 132 of the Act. The court emphasized that the penalty could only be imposed if a search was initiated against the assessee, in accordance with the law. The court found no substantial question of law and dismissed the appeal, highlighting the consistent legal position across various Tribunal judgments. Case-Laws Income Tax Mon, 12 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409964