Penalty for failure to furnish information return: daily penalty may be imposed following notice, subject to a statutory cap. A statutory penalty applies where a person required to furnish an information return under section 150 fails to do so within the period specified in the notice; the proper officer may direct imposition of a daily penalty for each day the failure continues, subject to an overall statutory cap.
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Provisions expressly mentioned in the judgment/order text.
Penalty for failure to furnish information return: daily penalty may be imposed following notice, subject to a statutory cap.
A statutory penalty applies where a person required to furnish an information return under section 150 fails to do so within the period specified in the notice; the proper officer may direct imposition of a daily penalty for each day the failure continues, subject to an overall statutory cap.
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