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TMI BlogSubstitution of new sections for sections 17 and 17AX X X X Extracts X X X X X X X X Extracts X X X X ..... If the Assessing Officer, in the course of any proceedings under this Act, is satisfied that any person has failed to comply with the notice under sub-section (2) or sub-section (4) of section 15, the Assessing Officer may, by order in writing, direct that such person shall pay, by way of penalty, a sum which shall not be less than one thousand rupees but which may extend to twenty-five thousand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urse of which action for the imposition of penalty has been initiated, are completed, or six months from the end of the month in which action for imposition of penalty is initiated, whichever period expires later. Explanation .- In computing the period of limitation for the purposes of this section, - (i) the time taken in giving an opportunity to the assessee to be re-heard under the proviso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not lower in rank than a Deputy Director or a Deputy Commissioner, by such gift-tax authority; (b) in any other case, by the Deputy Director or the Deputy Commissioner. (4) No order under this section shall be passed by any gift-tax authority referred to in sub-section (3) unless the person on whom penalty is proposed to be imposed has been heard or has been given a reasonable opportunity of b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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