November 2018

Section 271AAA Penalty proceeding u/s. 271AAA can be initiated only if the person has been subjected to search u/s.132(1) If penalty proceedings u/s. 271AAA are initiated against a person who is not subjected to search action u/s. 132(1) of the Act, the provision itself becomes unworkable as no declaration u/s. 132(4) of the Act is possible from any person other than the person against whom search and seizure action u/s. 132(1) is carried out.

JAGDISH T. PUNJABI | DEVENDRA JAIN | TEJASWINI GHAG
Chartered Accountants

7.  [2018] 97 taxmann.com 460 (Mumbai-Trib.)

DCIT vs. Velji Rupshi Faria

ITA No.: 1849/Mum/2017

A. Y.: 2008-09
Dated: 31st August, 2018

 

Section 271AAA Penalty proceeding u/s. 271AAA can be initiated only if the person has been subjected to search u/s.132(1)

 

If penalty proceedings u/s. 271AAA are initiated against a person who is not subjected to search action u/s. 132(1) of the Act, the provision itself becomes unworkable as no declaration u/s. 132(4) of the Act is possible from any person other than the person against whom search and seizure action u/s. 132(1) is carried out.

 

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