https://www.taxtmi.com/caselaws?id=448254 The ITAT Delhi resolved a dispute regarding the imposition and rate of penalties under Section 271AAB of the Income Tax Act. The Third Member determined that penalties were applicable since the search was conducted under Section 132, aligning with the Judicial Member's view and disagreeing with the Accountant Member. This resulted in the allowance of certain appeals while partially allowing another, emphasizing the importance of proper interpretation and application of the relevant legal provisions. en-us Thu, 11 Jan 2024 00:00:00 +0530 Sat, 13 Jan 2024 14:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448254 The ITAT Delhi resolved a dispute regarding the imposition and rate of penalties under Section 271AAB of the Income Tax Act. The Third Member determined that penalties were applicable since the search was conducted under Section 132, aligning with the Judicial Member's view and disagreeing with the Accountant Member. This resulted in the allowance of certain appeals while partially allowing another, emphasizing the importance of proper interpretation and application of the relevant legal provisions. Case-Laws Income Tax Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448254