TMI BlogSection 271AAB Penalty: Applies with material evidence when additional income is disclosed during tax search operations.Penalty u/s 271AAB - additional income disclosures only during the course of search & seizure operation buy peace of mind and avoid any further litigation. - 271AAB comes into play in case of corresponding material only than automatic in case of a search. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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