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of <h1>Section 174: Monetary penalties and procedures for noncompliance with notices, information requests, and document production under Gift-tax Act</h1> Section 174 effected substitution (later omitted) replacing sections on penalties for noncompliance under the Gift-tax Act. It authorized monetary penalties for failure to comply with notices, answer questions, sign statements, attend or produce documents, or furnish required information, with specified minimums and maximums and daily penalties for continued defaults. Imposition was subject to proof of reasonable cause, prior hearing, limits on which officers could impose higher penalties (and need for higher-level approval), and prescribed limitation periods for passing penalty orders, excluding time for rehearings or court stays. Authority allocation and procedural safeguards were stipulated.
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