Section 462 - Penalty for failure to furnish information or furnishing inaccurate information under section 397 (3)(d).

Fixed Rs.100,000 penalty under Income-tax Act section 397(3)(d) for failure or inaccurate to supply information

Under the Income-tax Act, 2025, where a person required to supply information under section 397(3)(d) either fails to furnish the information or furnishes inaccurate information, the Assessing Officer is empowered to impose a monetary penalty of Rs.100,000 on that person. The provision creates a clear, fixed-sum sanction for noncompliance or misrepresentation in responses to the specified statutory information requirement.