Penalty u/s 271AAB shall  not be levied if search u/s 153A not conducted in Premises of Assessee: ITAT [Read Order]

Penalty - shall not be levied - not conducted in Premises of Assessee - ITAT - TAXSCAN

The  Kolkata bench of Income Tax Appellate Tribunal (ITAT) held that the penalty under section 271AAB Income Tax Act, 1961  should not be levied if the search under section 153A Income Tax Act, 1961 is not conducted in premises of assessee. The assessee Jorbagh Tea Company filed an appeal against the order of Commissioner of…

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