Section 271AAB Penalty Deleted for Defective Notice: ITAT Jaipur

Advertisement Ravi Mathur Vs DCIT (ITAT Jaipur) Section 271AAB Penalty Deleted as Undisclosed Income Not Established and Defective Notice Issued: ITAT Jaipur The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Appeals) confirming a penalty of ₹1,00,20,000 imposed under Section 271AAB of the Income Tax Act for Assessment Year 2015-16. The assessee, an individual earning income from salary, house property and other sources, was subjected to a search under Section 132 on 30 October 2014. During the search, a pocket diary containing entries relating to ad...