Case Law Analysis
|Income Tax Appellate Tribunal
Section 271AAB Mandatory for Search Case Penalties | ITAT Jaipur Clarifies Penalty Provisions : ITAT Jaipur
ITAT Jaipur rules that penalties in search cases must be levied under Section 271AAB of the Income Tax Act, 1961, not Section 271(1)(c). The ruling clarifies the correct penalty framework for undisclosed income detected during search assessments, impacting taxpayers facing similar proceedings.