Penalty cap removal and supervisory approval: gift-tax penalties may exceed prior limit but require prior inspecting assistant commissioner approval. Amendments to section 17 remove the provision limiting penalties to an aggregate of fifty per cent of the assessed tax and replace the referral mechanism with a requirement that the Gift-tax Officer not make any penalty order without the previous approval of the Inspecting Assistant Commissioner.
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 cap removal and supervisory approval: gift-tax penalties may exceed prior limit but require prior inspecting assistant commissioner approval.
Amendments to section 17 remove the provision limiting penalties to an aggregate of fifty per cent of the assessed tax and replace the referral mechanism with a requirement that the Gift-tax Officer not make any penalty order without the previous approval of the Inspecting Assistant Commissioner.
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