Application of Income-tax procedural provisions to banking cash transaction tax aligns compliance and enforcement mechanisms. Specified provisions of the Income-tax Act are to apply, so far as may be, to banking cash transaction tax, thereby importing the income-tax procedural, assessment, recovery, evidentiary and penalty mechanisms into the banking cash transaction tax regime and aligning compliance, record-keeping, assessment, collection and appeal processes with those applicable to income-tax.
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Provisions expressly mentioned in the judgment/order text.
Application of Income-tax procedural provisions to banking cash transaction tax aligns compliance and enforcement mechanisms.
Specified provisions of the Income-tax Act are to apply, so far as may be, to banking cash transaction tax, thereby importing the income-tax procedural, assessment, recovery, evidentiary and penalty mechanisms into the banking cash transaction tax regime and aligning compliance, record-keeping, assessment, collection and appeal processes with those applicable to income-tax.
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