Penalty for failure to furnish statement of financial transaction or reportable account now applies, replacing annual information return requirement. The amendment recrystallises the penalty provision so that failure to furnish a statement of financial transaction or reportable account-rather than an annual information return-attracts penalty, substituting the expressions 'annual information return' with 'statement of financial transaction or reportable account' and replacing the term 'return' with 'statement.'
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 failure to furnish statement of financial transaction or reportable account now applies, replacing annual information return requirement.
The amendment recrystallises the penalty provision so that failure to furnish a statement of financial transaction or reportable account-rather than an annual information return-attracts penalty, substituting the expressions "annual information return" with "statement of financial transaction or reportable account" and replacing the term "return" with "statement."
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