Section 46(2) in The Black Money (Undisclosed Foreign Income And Assets) And Imposition Of Tax Act, 2015
(2)The notice referred to in sub-section (1) shall be issued—(a)during the pendency of any proceedings under this Act for the relevant previous year, in respect of penalty referred to in section 41;(b)within a period of three years from the end of the financial year in which the default is committed, in respect of penalties referred to in section 45.
