Section 271AAA of the Act are very clear and unambiguous to drive home the point that for the "specified previous year‟ which includes year of search.

Last updated: 23 January 2021
Quick Summary
This Income Tax Appellate Tribunal case (ITA No.753/Mum/2014) concerns a penalty imposed under Section 271(1)(c) of the Income Tax Act, 1961, for the assessment year 2008-09. The assessee, Bharat R. Ruia (HUF), appealed the decision of the Commissioner of Income Tax (Appeals). During the proceedings, the assessee withdrew additional grounds of appeal related to the penalty.

Court :
ITAT Mumbai

Brief :
This appeal in ITA No.753/Mum/2014 for A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-38, in appeal No.CIT(A)-38/IT-170/2011-12 dated 29/11/2013 (ld. CIT(A) in short) in the matter of imposition of penalty u/s.271(1)(c) of the Income Tax Act, 1961.

Citation :
ITA 753/MUM/2014

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