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 ... Summary
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.