Penalty for failure to subscribe to eligible capital issues triggers a percentage based sanction on unsubscribed amounts. Insertion of section 271BB creates a penalty for failure to subscribe to an eligible issue of capital under schemes referred to in section 88A(1); the Deputy Commissioner may direct payment of a penalty equal to twenty per cent of the unsubscribed amount where subscription is not made within the prescribed six month period.
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 subscribe to eligible capital issues triggers a percentage based sanction on unsubscribed amounts.
Insertion of section 271BB creates a penalty for failure to subscribe to an eligible issue of capital under schemes referred to in section 88A(1); the Deputy Commissioner may direct payment of a penalty equal to twenty per cent of the unsubscribed amount where subscription is not made within the prescribed six month period.
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