Penalty for failure to furnish transfer pricing accountant report under section 92E creates a mandatory monetary sanction for noncompliance. A new provision prescribes a penalty for failure to furnish a report under section 92E. If a person fails to furnish the accountant's report required by section 92E, the Assessing Officer may direct that the person pay a fixed monetary penalty, creating an enforceable compliance mechanism for the transfer pricing reporting obligation effective from 1 April 2002.
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 furnish transfer pricing accountant report under section 92E creates a mandatory monetary sanction for noncompliance.
A new provision prescribes a penalty for failure to furnish a report under section 92E. If a person fails to furnish the accountant's report required by section 92E, the Assessing Officer may direct that the person pay a fixed monetary penalty, creating an enforceable compliance mechanism for the transfer pricing reporting obligation effective from 1 April 2002.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
