https://www.taxtmi.com/caselaws?id=777747 ITAT (Kolkata) held that penalty under section 271AAB could not be sustained because no search was initiated against the assessee. CIT(A) found, and revenue failed to overturn, that the statutory requirement of a search under section 132 was absent, making section 271AAB inapplicable. Accordingly, the penalty was deleted and the revenue's appeal was dismissed. en-us Thu, 28 Aug 2025 00:00:00 +0530 Thu, 04 Sep 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777747 ITAT (Kolkata) held that penalty under section 271AAB could not be sustained because no search was initiated against the assessee. CIT(A) found, and revenue failed to overturn, that the statutory requirement of a search under section 132 was absent, making section 271AAB inapplicable. Accordingly, the penalty was deleted and the revenue's appeal was dismissed. Case-Laws Income Tax Thu, 28 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777747