Penalty for failure to furnish information under section 285A imposes enhanced sanction when management or control is transferred.

Where an Indian concern required to furnish information or documents under section 285A fails to do so, the prescribed income tax authority may direct a penalty: a sum equal to two percent of the value of the transaction if the transaction directly or indirectly transfers the right of management or control in relation to the Indian concern, or a fixed monetary penalty in other cases.

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