Reassessment shall not be framed u/s 153C of Income Tax Act,  if notice for search proceedings  issued  u/s 153A of Act: ITAT deletes Penalty [Read Order]

Reassessment - Income- Tax -Act- notice - search- proceedings- Act-ITAT - Penalty-TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Amritsar Bench held that reassessment should not be framed under Section 153C of Income Tax Act, 1961 if notice for search proceedings was issued under Section 153A of the Income Tax Act. Therefore the bench deleted the penalty imposed by the assessing officer. Assesee Pawan Kumar, filed the appeal…

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