Penalty u/s 271AAB not imposable in absence of conduct of search

Jorbagh Tea Company Vs ACIT (ITAT Kolkata) ITAT Kolkata held that in case where search has not been conducted upon the assessee, then penalty under section 271AAB of the Income Tax Act cannot be imposed. Facts- A notice u/s. 153C of the Income Tax Act was issued to the assessee on 07.09.2015 calling for return of income for A.Y. 2008-09 to 2013-14. The assessee has filed the return of income for A.Y. 2013-14 on 15.09.2015 declaring total income at Rs.1,53,30,300/-. AO had issued a notice under section 143(2) for scrutinising this return. He passed an assessment order under section 143(3) read ...