Non compliance with specified income tax reporting and possession duties attracts imprisonment and fine under the new penal provision. A new penal provision creates an offence for failure, without reasonable cause, to comply with specified reporting obligations, to surrender or deliver possession of property as required, or to contravene related prohibitions; the offence attracts rigorous imprisonment and a fine, with imprisonment potentially extending to two years and a mandatory minimum sentence of six months unless special and adequate reasons are recorded by the court.
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.
Non compliance with specified income tax reporting and possession duties attracts imprisonment and fine under the new penal provision.
A new penal provision creates an offence for failure, without reasonable cause, to comply with specified reporting obligations, to surrender or deliver possession of property as required, or to contravene related prohibitions; the offence attracts rigorous imprisonment and a fine, with imprisonment potentially extending to two years and a mandatory minimum sentence of six months unless special and adequate reasons are recorded by the court.
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