https://www.taxtmi.com/caselaws?id=436859 The Tribunal allowed the assessee's appeal, finding the penalty levied under section 271(1)(c) to be incorrect and not maintainable, as the search period fell under the provisions of section 271AAA, which debars penalty under section 271(1)(c). The Tribunal emphasized the necessity of applying the Income Tax Act provisions accurately and ensuring penalties align with the circumstances specified in the legislation. en-us Fri, 31 Mar 2023 00:00:00 +0530 Sat, 22 Apr 2023 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436859 The Tribunal allowed the assessee's appeal, finding the penalty levied under section 271(1)(c) to be incorrect and not maintainable, as the search period fell under the provisions of section 271AAA, which debars penalty under section 271(1)(c). The Tribunal emphasized the necessity of applying the Income Tax Act provisions accurately and ensuring penalties align with the circumstances specified in the legislation. Case-Laws Income Tax Fri, 31 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436859