No Section 271AAB Penalty if Search Proceedings were not initiated on assessee

Ramavatar Mandavewala Vs JT.CIT (ITAT Mumbai)

Introduction: The case of Ramavatar Mandavewala vs. JT.CIT, heard by ITAT Mumbai, centers around the imposition of a penalty under Section 271AAB of the Income-tax Act, 1961, for the Assessment Year 2013-14. The key issue revolves around the applicability of the penalty in the absence of a direct search on the assessee.

Detailed Analysis:

1. Background: During a search operation on M/s G

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