Defective SCN Held Invalid -ITAT Chandigarh Deletes Penalty u/s 271AAB 

G.S. Auto Comp Pvt. Ltd. Vs ACIT (ITAT Chandigarh) Defective Show Cause Notice Held Invalid -ITAT Chandigarh Deletes Penalty u/s 271AAB Chandigarh Bench “A” of Tribunal comprising Shri Rajpal Yadav, Vice President & Shri Manoj Kumar Aggarwal, Accountant Member, allowed the appeal of G.S. Auto Comp Pvt. Ltd. against order of CIT(A) dated 04.12.2019 upholding penalty u/s 271AAB. During search proceedings, AO levied penalty of Rs. 30.30 lakh u/s 271AAB, which was partly reduced by CIT(A) to Rs. 10.10 lakh. Assessee challenged the penalty on legal ground that the very show cause notice iss...