Penalty Automatically Applies u/s 271AAB(1)(a) for Surrendered Amounts During Search and Seizure Operations.

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....Penalty imposed u/s 271AAB(1)(a) - The provisions of Section 271AAB automatically attracts and the proceedings are to be carried out/completed where a search and seizure operation is carried out in which the assessees have surrendered the amount u/s 132(4)....