Section 271AAB Amended: 60% Penalty on Undisclosed Income Found in Searches; Excludes Penalty u/s 270A.

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Full Text of the Document

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....Amendment of section 271AAB. - penalty where search has been initiated. - to provide for levy of penalty on such undisclosed income at a flat rate of sixty per cent. - no penalty shall be levied under section 270A also in respect of the undisclosed income referred to in sub-section (1) of section 271AAB.....