Defective Penalty Notice: ITAT deletes penalty Imposed u/s 271AAB of Income Tax Act [Read Order]

By Aparna. M - On March 9, 2024 10:02 am - 2 mins read
Defective Penalty Notice - Penalty - Notice - ITAT - Income Tax Act - taxscan

The Delhi bench  of  Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed under Section 271AAB of the Income Tax Act, 1961 due to the defective penalty notice issued by the assessing officer. The assessee Landcraft Developers (Pvt.) Ltd.  is engaged in the business of development of land. A search and seizure operation under Section…

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