Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....0 for each default or failure as mentioned below, if that person,- (a) being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by an income-tax authority in the exercise of its powers under this Act; or (b) refuses to sign any statement made by him in the course of any proceedings under this Act, which....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ime any of the returns, statements or particulars mentioned in section 252 or 397(3) or 507; or (d) allow inspection of any register referred to in section 255 or of any entry in such register or to allow copies of such register or of any entry therein to be taken; or (e) furnish the return of income as required under section 263(1)(a)(iii) or (iv) or to furnish it within the tim....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y be prescribed under section 397(3)(g)(i). (3) The amount of penalty shall not exceed the amount of tax deductible or collectible for failures in relation to the following:-- (a) a declaration required under section 393(7); (b) a certificate as required under section 395(4); and (c) statements under section 397(3)(b) or (e). (4) Any penalty imposable under sub-sec....