TMI BlogPenalty for failure to answer questions, sign statements, furnish information, allow inspection, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... (c) to whom a summons is issued under sub-section (1) of section 37 either to attend to give evidence or produce books of account or other documents at a certain place and time, omits to attend or produce the books of account or documents at the place and time, he shall pay, by way of penalty, a sum which shall not be less than five hundred rupees but which may extend to ten thousand rupees for each such default or failure : Provided that no penalty shall be imposable under clause (c) if the person proves that there was reasonable cause for the said failure. (2) If a person fails to furnish in due time any statement or information which such person is bound to furnish to the Assess ing Officer under section 38, he sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -------------------------- Notes:- 1. First restored to its original version, i.e., prior to its substitution by the Direct Tax Laws (Amendment) Act, 1987, and then substituted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Prior to its substitution, section 18A, as inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976 and later on amended by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978 and Taxation Laws (Amendment Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986, stood as under : "18A. Penalty for failure to answer questions, sign statements, allow inspections, etc. (1) If a person, ( a ) being legally bound to state the truth of any matter touching the subject of hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs as he deems fit. (4) No order under this section shall be passed by any officer referred to in sub-section (3), unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter by such officer." 2. Substituted vide the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. Before it was read as:- "Deputy" 3. Substituted vide the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. Before it was read as:- "Deputy" 4. Substituted vide the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. Before it was read as:- "Deputy" 5. Substituted vide the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. Before it was read as:- "Deputy" 6. Substituted vide the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998. B ..... X X X X Extracts X X X X X X X X Extracts X X X X
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