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of <h1>Finance Bill 2025 amends Section 271AAB, clarifying non-applicability to searches under Section 132 post-September 2024.</h1> The Finance Bill 2025 proposes an amendment to Section 271AAB of the Act, which concerns penalties for searches initiated after December 15, 2016. This amendment clarifies that Section 271AAB will not apply to searches conducted under Section 132 on or after September 1, 2024. This change aims to eliminate any ambiguity regarding the applicability of Section 271AAB to such searches. The amendment will be effective from September 1, 2024, ensuring that the provisions of Section 271AAB do not apply to assessees subject to searches initiated from that date.
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