Penalty for assessments issued for failure to file a return

Tax200583 sections10 chapters

Chapter VIII OFFENCES AND PENALTIES

Statutory text

(1) Where an assessment is made under the provisions of sub-section
(1) of Section 21 for the failure to file a return, a penalty of fifty percent of the assessed amount shall be imposed.
(2) Where an assessment has been made under sub-section
(1) of Section 21, and the dealer subsequently furnishes a return for the period to which the assessment relates, the authority prescribed may withdraw the assessment but the dealer shall be liable to pay penalty under sub-section
(3) of Section 50 and interest as applicable.

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