Amendment of section 271AAB.

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Full Text of the Document

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....ed to have been inserted with effect from the 1^st September, 2024. - Clause 75 of the Bill seeks to amend section 271AAB of the Income-tax Act relating to penalty where search has been initiated. Sub-section (1A) of the said section, inter-alia, provides that for a search initiated on or after the 15th December, 2016, a penalty of thirty per cent. of undisclosed income may be le....