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2018 (4) TMI 1777 - AT - Income TaxPenalty levied u/s 271AAA - assessee offered undisclosed income in the return of income filed in response to notice u/s 142 - assessment proceedings were initiated u/s 153C - HELD THAT:- On mere perusal of the provisions of section 271AAA, it is clear that the provisions of section 271AAA can be invoked only in case where search has been initiated u/s 132 and undisclosed income is found as a result of such action. In the present case, return of income was filed in response to notice u/s 142. There is no material on record suggesting that search has been initiated in the assessee’s case. It is stated that search was initiated in the case of M/s. ILC Industries during the course of which certain documents stated to be belonging to the assessee were seized. There was no notice issued u/s 153A against the assessee. From the perusal of the order of assessment for assessment year 2011-12 it is clear that the assessment proceedings were initiated u/s 153C in which case provisions of section 271AAA cannot be invoked. Therefore, the order imposing penalty us/ 271AAA cannot be sustained in the eyes of law. Appeal filed by the assessee is allowed.
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