Search seizure at the Assessee company\u2019s premises. Addition was made to the total income and separate penalty proceedings were initiated. Further, reopening was done by S.148 notice and further addition was made. Another penalty proceedings were initiated. On appeal, the Tribunal observed that the AO had tried to merge the penalty proceedings initiated vide order under S. 143(3) with the penalty proceedings initiated in the reassessment order passed under S. 147\/143(3) of the Act. two separate proceedings were initiated for imposition of penalty under S. 271AAB, therefore, in no circumstances, one single order imposing penalty under s. 271AAB on the addition made vide two separate orders could be passed. It was held that the penalty proceedings issued after the order under S. 143(3) were barred by limitation. With respect to penalty proceedings initiated after the order passed under S. 147\/143(3), it was held that the AO did not specify the charges of provision of S. 271AAB of the Act in the S. 274 notice, making it defective. Hence, both the penalty proceedings were deleted. (AY. 2015-16)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271AAB:Peanlty -Search initiated on or after Ist day of July 2012-Assessment completed u\/s. 143(3) – Addition made – Reopening u\/s. 147 – Again additions made \u2013 Two penalty proceedings for both addition \u2013 Merging of penalty is not valid \u2013 Not specifying the charge \u2013 Barred by limitation- Penalty order is quashed . [ S. 274 ,275 ] . <\/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-54595","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ecz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54595","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=54595"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54595\/revisions"}],"predecessor-version":[{"id":54596,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54595\/revisions\/54596"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}