Rationalization of the provisions of sections 271AAB, 271AAC and 271AAD of the IT Act

Last updated: 01 February 2022

1. Sections 271AAB, 271AAC and 271AAD of the Act under Chapter XXI contain provisions that give powers to the Assessing Officer to levy penalty in cases involving undisclosed income in cases where search has been initiated u/s 132 or otherwise, or for false entry etc. in books of account. 2. Unde

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