741/CBDT.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed. The section further provides that penalty not exceeding twice the amount of the estate duty, if any, which would have been avoided, if the principal value drawing the account of such person had been accepted as correct can be imposed in case a default is committed u/s 60(1)(b) or 60(1)(d) of the Estate Duty Act, 1953. The Board have come across a few cases where the penalties imposed u/s 60....