Penalty on undisclosed income confined to searches within a specified historical window; amendment applies retrospectively. The amendment confines the applicability of section 271AAA to searches under section 132 initiated on or after 1 June 2007 but before 1 July 2012, thereby ... Summary
Penalty on undisclosed income confined to searches within a specified historical window; amendment applies retrospectively.
The amendment confines the applicability of section 271AAA to searches under section 132 initiated on or after 1 June 2007 but before 1 July 2012, thereby limiting which searches attract the penalty for undisclosed income; the change is declared retrospective from 1 April 2012.
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