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Statutory Provisions

Home Acts & Rules Bill Bills FINANCE BILL, 2008 Chapters List Chapter VII Commodities Transaction tax This

Clause 109 - Penalty not to be imposed in certain cases. - FINANCE BILL, 2008

FINANCE BILL, 2008
Chapter VII
Commodities Transaction tax
  • Contents

109.  (1) Notwithstanding anything contained in section 106 or section 107 or section 108, no penalty shall be imposable for any failure referred to in the said sections, if the assessee proves to the satisfaction of the Assessing Officer that there was reasonable cause for the said failure.

(2) No order imposing a penalty under this Chapter shall be made unless the assessee has been given a reasonable opportunity of being heard.

 
 
 
 

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