Penalty liability in income tax fixed as a prescribed monetary sanction for specified defaults under the Act. Penalty under section 271-I prescribes a fixed monetary sanction: a non-discretionary penalty of Rs. 1,00,000 to be levied for the specified defaults ... Summary
Penalty liability in income tax fixed as a prescribed monetary sanction for specified defaults under the Act.
Penalty under section 271-I prescribes a fixed monetary sanction: a non-discretionary penalty of Rs. 1,00,000 to be levied for the specified defaults under the income-tax provision.
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