Penalty for non-furnishing by eligible investment fund: authority may direct payment for failure to provide required statement. Where an eligible investment fund required to furnish a statement, information or document under the specified provision fails to do so within the prescribed time, the income-tax authority prescribed under that provision may direct that the fund shall pay a monetary penalty, establishing a directed financial consequence for non-compliance.
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-furnishing by eligible investment fund: authority may direct payment for failure to provide required statement.
Where an eligible investment fund required to furnish a statement, information or document under the specified provision fails to do so within the prescribed time, the income-tax authority prescribed under that provision may direct that the fund shall pay a monetary penalty, establishing a directed financial consequence for non-compliance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.