Penalty for failure to comply with notice may be imposed daily alongside commodities transaction tax and interest. Where the Assessing Officer determines that an assessee has failed to comply with a notice under sub section (1) of section 108, the officer may direct ... Summary
Penalty for failure to comply with notice may be imposed daily alongside commodities transaction tax and interest.
Where the Assessing Officer determines that an assessee has failed to comply with a notice under sub section (1) of section 108, the officer may direct that the assessee pay a penalty in addition to any commodities transaction tax and interest, with the penalty accruing for each day the failure continues.
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