Section 14A
Power of recover arrears of penalty.
The Foreign Exchange Management Act, 1999
About this Act
An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
1
[14A. Power of recover arrears of penalty.--(1) Save as otherwise provided in this Act, the
Adjudicating Authority may, by order in writing, authorise an officer of Enforcement not below the rank
of Assistant Director to recover any arrears of penalty from any person who fails to make full payment of
penalty imposed on him under section 13 within the period of ninety days from the date on which the
notice for payment of such penalty is served on him.
(2) The officer referred to in sub-section (1) shall exercise all the like powers which are conferred on the income-tax authority in relation to recovery of tax under the Income-tax Act, 1961 (43 of 1961) and the procedure laid down under the Second Schedule to the said Act shall mutatis mutandis apply in relation to recovery of arrears of penalty under this Act.]
(2) The officer referred to in sub-section (1) shall exercise all the like powers which are conferred on the income-tax authority in relation to recovery of tax under the Income-tax Act, 1961 (43 of 1961) and the procedure laid down under the Second Schedule to the said Act shall mutatis mutandis apply in relation to recovery of arrears of penalty under this Act.]
Notes
1. Section 14A shall stand inserted (date to be notified) by Act 28 of 2016, s. 229.