Vague Penalty Notice Invalidates Search Penalty Under Section 271AAB: ITAT Ranchi

Suresh Kumar Modi HUF Vs ITO (ITAT Ranchi)

The ITAT, Ranchi Bench, held that penalty u/s 271AAB cannot survive where the notice u/s 274 is vague and does not specify the exact charge or clause invoked. In this case (AY 2016-17), though the assessee had admitted undisclosed income during search and paid tax, t

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