Penalty for failure to comply with notice may be imposed daily alongside commodities transaction tax and interest. Where the Assessing Officer determines that an assessee has failed to comply with a notice under sub section (1) of section 108, the officer may direct that the assessee pay a penalty in addition to any commodities transaction tax and interest, with the penalty accruing for each day the failure continues.
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 comply with notice may be imposed daily alongside commodities transaction tax and interest.
Where the Assessing Officer determines that an assessee has failed to comply with a notice under sub section (1) of section 108, the officer may direct that the assessee pay a penalty in addition to any commodities transaction tax and interest, with the penalty accruing for each day the failure continues.
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