Recovery of penalty as tax due: Commission may refer imposed competition penalties to income tax authority for recovery. Form V under section 39(2) furnishes the Competition Commission's formal reference to the Income tax authority to recover an imposed monetary penalty as tax due, directs treating the enterprise as an assessee in default, and invokes specified procedural and recovery provisions of the Income tax Act for collection and reporting back to the Commission.
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.
Recovery of penalty as tax due: Commission may refer imposed competition penalties to income tax authority for recovery.
Form V under section 39(2) furnishes the Competition Commission's formal reference to the Income tax authority to recover an imposed monetary penalty as tax due, directs treating the enterprise as an assessee in default, and invokes specified procedural and recovery provisions of the Income tax Act for collection and reporting back to the Commission.
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