469 results for “penalty u/s 271”+ Section 143(3)clear
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Appeals are allowed
Bench: Shri Vijay Pal Rao & Shri B.M. Biyani
u/s 271AAB is not mandatory but to be imposed on merits of the each case.” Thus the Tribunal has held that the levy of penalty under section 271AAB is not mandatory but the AO has the discretion to take a decision and shall be based on judicious decision of the AO. Hence we fortify our view by the above decisions