Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Penalty for non-compliance with securities information notice permits an initial fine and continuing daily fines. The prior statutory provision permitted the Income-tax Officer to direct payment of an initial monetary penalty for failure to comply with a notice requiring securities-related information, and a like amount as a continuing daily penalty for each day the failure continued; that provision has since been omitted by 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 non-compliance with securities information notice permits an initial fine and continuing daily fines.
The prior statutory provision permitted the Income-tax Officer to direct payment of an initial monetary penalty for failure to comply with a notice requiring securities-related information, and a like amount as a continuing daily penalty for each day the failure continued; that provision has since been omitted by amendment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.