TaxTMI 
TaxTMI 
good afternoon sir,
can you tell me about section 271aab. i means to say that in which case i will paid panelty u/s 271ab.please try to understand what i am saying.
section 271aab
13 Jun 2012 
1 Reply 
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Penalty for undisclosed income in search cases establishes specific liability and additional consequences under Section 271AAB.
Penalty liability under Section 271AAB applies to undisclosed income revealed during search proceedings, creating a specific penalty mechanism for search originated detections in addition to tax and interest, with applicability commencing from its effective date in mid 2012. (AI Summary)
Penalty liability under Section 271AAB applies to undisclosed income revealed during search proceedings, creating a specific penalty mechanism for search originated detections in addition to tax and interest, with applicability commencing from its effective date in mid 2012. (AI Summary)
