{"id":41329,"date":"2024-04-04T14:35:24","date_gmt":"2024-04-04T09:05:24","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-sel-manufacturing-co-ltd-2023101-itr-674-chd-trib\/"},"modified":"2024-04-04T14:35:24","modified_gmt":"2024-04-04T09:05:24","slug":"dy-cit-v-sel-manufacturing-co-ltd-2023101-itr-674-chd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-sel-manufacturing-co-ltd-2023101-itr-674-chd-trib\/","title":{"rendered":"Dy. CIT v. Sel Manufacturing Co. Ltd. (2023)101 ITR 674 (Chd) (Trib)"},"content":{"rendered":"<p>Held that in the entire penalty order, the Assessing Officer did not record his satisfaction. There was no legal basis for sustaining the charge of undisclosed income found during the course of search and accordingly, there was no justifiable and legal basis for levy of penalty under section\u00a0271AAB\u00a0of the Act. The Commissioner (Appeals) had rightly deleted the levy of penalty under section\u00a0271AAB. (AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271AAB : Penalty-Search initiated on or after 1st day of July  2012-Statement on oath-Undisclosed Income-Conditions-Admission in statement recorded during search not the sole criteria-A.O. not recording satisfaction-No legal basis for sustaining charge of undisclosed income-No basis for levy of penalty. [S. 132, 132(4)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-41329","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-aKB","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=41329"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41329\/revisions"}],"predecessor-version":[{"id":41330,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/41329\/revisions\/41330"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=41329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=41329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=41329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}