Section 271AAB penalty cannot be levied based on defective notice

Ashok Bhatia Vs DCIT (ITAT Indore)

Conclusion: Penalty under section 271AAB levied on the basis of defective notice could not be sustained as  there was no mention about various conditions provided u/s 271AAB as it was incumbent upon AO to mention in notice issued under section 274 read with section 271AAB as to under which clause of section 271AAB penalty was leviable and that too, at which rate.

Held: Assessee contended that in the notice issued u/s 274

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