The Tribunal held that the assessee had challenged the issue of legality of notice issued under section\u00a0274\u00a0read with section\u00a0270A\u00a0\/\u00a0271AAB\u00a0for both assessment years for the first time before the Tribunal, and the facts with regard to the legal issue were not on record.\u00a0 Application under Rule 27 of the ITAT Rules 1963 is admitted on legal issue in the appeal of the Revenue\u00a0 Since, the Commissioner (Appeals) had not discussed the issue or decided the issue raised by the assessee, the issue\u00a0 is remanded to Commissioner (Appeals) for considering the preliminary legal issue raised by the assessee on the validity of penalty proceedings initiated on the basis of vague notice issued under section\u00a0274\u00a0read with sections\u00a0270A\u00a0and\u00a0271AAB\u00a0of the Act. Followed, CIT v. India Cements Ltd (2020) 424 ITR 410 (Mad)(HC), Peter Vaz v.CIT (2021) 436 ITR 616 (Bom)(HC) (AY.2017-18, 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Cash payment-Recorded in balance sheet-Cannot be held to be undisclosed-Additional ground-Legal issue-Matter remanded to the CIT(A). [S. 270A,274, ITAT R. 27] <\/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-52590","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dGe","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52590","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=52590"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52590\/revisions"}],"predecessor-version":[{"id":52591,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/52590\/revisions\/52591"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=52590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=52590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=52590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}