Imposition of penalty in certain cases

Tax198729 of 30 sections available

Statutory text

(1) Where any proprietor liable to pay tax under this Act:-
- (a) fails without sufficient cause or neglects to furnish a return as required by sub-section
(1) of section 6; or
- (b) while furnishing a return under sub-section
(1) of section 6 fails, without sufficient cause or neg- lects, to pay the whole amount of tax due from him according to such return as required by sub-section (3) of section 6: or
- (c) fails, without sufficient cause, to comply with the terms of notice issued to him under sub-section
(2) of section 7; or
- (d) conceals the particulars of any transaction or deliberately furnishes inaccurate particulars of any transaction liable to tax; the assessing authority may impose upon such prop rietor by way of penalty, in addition to any tax asses- sed under section 7 or 8, a sum not exceeding three time the amount of tax due where the failure or con- cealment is wilful and a sum not exceeding the amount of tax due, where the failure or concealment is not wilful.
(2) The amount of penalty, if any, levied under sub-section
(1) shall be paid by the proprietor in such manner as may be prescribed within such time as may be specified by the assessing authority in the notice, issued by it for this purpose, not exceeding thirty days from the date of service of the notice.

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