Once penalty u/s 271AAB applied in search addition, invoking provision of section 115BBE unjustified

Sandeep Sethi Vs DCIT (ITAT Jaipur) ITAT Jaipur held that once penal provisions under section 271AAB of the Income Tax Act are applied in case of search addition, invoking provision of section 115BBE is not in accordance with law and accordingly unsustainable. Facts- Notice u/s 142(1) of the Act was issued to the assessee on 14-09-2017 which was duly served. In response to notice issued u/s 142(1) the assessee furnished his return of income on 31-10-2017 declaring total Income of Rs. 1,77,10,650/-. It includes the surrendered income of Rs. 89.05 lacs which had been accepted by the assessee dur...