Penalty for failure to furnish information under section 195 introduces a monetary sanction for non compliance with reporting obligations. Insertion of section 271-I establishes that if a person required to furnish information under sub-section (6) of section 195 fails to furnish such information or furnishes inaccurate information, the Assessing Officer may direct that such person shall pay, by way of penalty, a fixed monetary sum; the provision takes effect from the stated commencement date of the amendment.
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 information under section 195 introduces a monetary sanction for non compliance with reporting obligations.
Insertion of section 271-I establishes that if a person required to furnish information under sub-section (6) of section 195 fails to furnish such information or furnishes inaccurate information, the Assessing Officer may direct that such person shall pay, by way of penalty, a fixed monetary sum; the provision takes effect from the stated commencement date of the amendment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
