https://www.taxtmi.com/acts?id=51031 The Gift-tax Act amendment removes the words "without reasonable cause" from subsection (1) of section 17 and inserts a proviso that in the cases referred to in clause (a) or clause (b) no penalty shall be imposed if the person proves there was reasonable cause for the failure, thereby preserving a reasonable cause defence limited to those specified clauses while maintaining the remaining penalty structure. en-us Fri, 18 Apr 2025 17:56:04 +0530 Fri, 18 Apr 2025 17:56:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51031 The Gift-tax Act amendment removes the words "without reasonable cause" from subsection (1) of section 17 and inserts a proviso that in the cases referred to in clause (a) or clause (b) no penalty shall be imposed if the person proves there was reasonable cause for the failure, thereby preserving a reasonable cause defence limited to those specified clauses while maintaining the remaining penalty structure. Act-Rules F. Acts / Amendment Acts Fri, 18 Apr 2025 17:56:04 +0530 https://www.taxtmi.com/acts?id=51031