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The Tax PublishersITA Nos. 2950 to 2955/Bang/2018
2019 TaxPub(DT) 7264 (Bang-Trib) : (2019) 076 ITR (Trib) 0044INCOME TAX ACT, 1961
Section 271AAB
In the absence of search under section 132 of the Act, the consequential or incidental assessment proceedings under section 153C, entitle AO to usurp jurisdiction under section 271AAB for the purposes of imposition of penalty.
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Penalty under section 271AAB - Imposition of - Additions were made to total income of assessee in order passed under section 153C -
Assessee-firm was subjected to a search under section 132 and certain evidence was found during the course of such search and based on those documents proceedings under section 153C were initiated against the assessee. Various additions were made to total income of assessee in order passed under section 153C and in respect of those additions, penalty proceedings were initiated under section 271AAB. Held: Applicability of section 271AAB is integrally connected to search under section 132. In the absence of search under section 132, assessee has no occasion to avail the concessional treatment by way of admission under section 132(4). Thus, there was no merits in the observations made by first appellate authority that provisions of section 271AAB are not applicable to the case of the assessee. Penalty in the case of assessee cannot be sustained as assessee was not a person who was subjected to search under section 132.
REFERRED : Dy. CIT v. Shreeji Corporation [T(SS)A No.73 & 74/Ahd/2017 for A.Ys. 2012-13 & 2013-14] : 2018 TaxPub(DT) 7822 (Ahd-Trib) Dy. CIT v. Volga Dresses [ITA Nos. 201 & 201/PAN/2016 for A.Ys. 2013-14 & 2014-15, Order, dt. 27-3-2017]
FAVOUR : In assessee's favour
A.Y. :
IN THE ITAT, BANGALORE BENCH
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