Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Penalty for non-compliance with securities information notice permits an initial fine and continuing daily fines. The prior statutory provision permitted the Income-tax Officer to direct payment of an initial monetary penalty for failure to comply with a notice ... Summary
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Penalty for non-compliance with securities information notice permits an initial fine and continuing daily fines.
The prior statutory provision permitted the Income-tax Officer to direct payment of an initial monetary penalty for failure to comply with a notice requiring securities-related information, and a like amount as a continuing daily penalty for each day the failure continued; that provision has since been omitted by amendment.
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