Penalty for tax non-compliance: failures to maintain records, deduct, collect or pay tax attract prescribed penalties. A statutory penalty regime imposes liability where a person, without reasonable cause, fails to comply with specified tax obligations including maintaining books, obtaining audits, deducting or collecting tax, paying tax or sums, responding to notices, producing records, and furnishing returns or certificates; the law prescribes graded monetary sanctions-ranging from specified minimums and maximums for recordkeeping and audit defaults, percentage-based penalties for deduction or collection failures, fixed amounts for certain return failures, and transaction-linked or other capped penalties for remaining defaults.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for tax non-compliance: failures to maintain records, deduct, collect or pay tax attract prescribed penalties.
A statutory penalty regime imposes liability where a person, without reasonable cause, fails to comply with specified tax obligations including maintaining books, obtaining audits, deducting or collecting tax, paying tax or sums, responding to notices, producing records, and furnishing returns or certificates; the law prescribes graded monetary sanctions-ranging from specified minimums and maximums for recordkeeping and audit defaults, percentage-based penalties for deduction or collection failures, fixed amounts for certain return failures, and transaction-linked or other capped penalties for remaining defaults.
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