Prosecution for non-filing of return post-search/requisition on or after 01-09-2024 [Section 276CCC]
- Nature of Default
If a search is initiated under Section 132 or a requisition is made under Section 132A on or after 01-09-2024, and the assessee fails to file a return in response to a notice issued under Section 158BC(1)(a), prosecution can be launched under this section.
- Period of Imprisonment
Punishable with rigorous imprisonment of 3 months to 3 years and with fine.