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of <h1>Penalty for Non-Compliance: Failing to Meet Section 99(1) Notice Can Lead to 10,000 Fine Per Instance.</h1> If an individual fails to comply with a notice under sub-section (1) of section 99 during proceedings, the Assessing Officer may impose a penalty. This penalty is in addition to any banking cash transaction tax and interest due and amounts to ten thousand rupees for each instance of non-compliance.
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