Penalty for non-compliance with banking cash transaction notice may be imposed in addition to tax and interest. Where an Assessing Officer is satisfied that a person has failed to comply with a notice under the relevant notice provision, the officer may direct payment of a penalty for each such failure, payable in addition to any banking cash transaction tax and any interest due.
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Provisions expressly mentioned in the judgment/order text.
Penalty for non-compliance with banking cash transaction notice may be imposed in addition to tax and interest.
Where an Assessing Officer is satisfied that a person has failed to comply with a notice under the relevant notice provision, the officer may direct payment of a penalty for each such failure, payable in addition to any banking cash transaction tax and any interest due.
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