https://www.taxtmi.com/highlights?id=68639 Penalty u/s 271AAB(1) - disallowance u/s 14A - search and seizure - the disallowance of expenditure u/s 14A doesn’t represent any income of the specified previous year by any entry in respect of an expense recorded in the books of account or other documents maintained in the normal course relating to the specified previous year which is found to be false - there is no legal basis for sustaining the charge of undisclosed income found during the course of search and accordingly, there is no justifiable and legal basis for levy of penalty u/s 271AAB - AT en-us Thu, 09 Mar 2023 08:37:09 +0530 Thu, 09 Mar 2023 08:37:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68639 Penalty u/s 271AAB(1) - disallowance u/s 14A - search and seizure - the disallowance of expenditure u/s 14A doesn’t represent any income of the specified previous year by any entry in respect of an expense recorded in the books of account or other documents maintained in the normal course relating to the specified previous year which is found to be false - there is no legal basis for sustaining the charge of undisclosed income found during the course of search and accordingly, there is no justifiable and legal basis for levy of penalty u/s 271AAB - AT Highlights Income Tax Thu, 09 Mar 2023 08:37:09 +0530 https://www.taxtmi.com/highlights?id=68639