Section 271G
Penalty for failure to furnish information or document under section 92D. Repealed
About this Act
An Act to consolidate and amend the law relating to income-tax and super-tax
1If any
person who has entered into an 2
international transaction or specified domestic transaction fails to
furnish any such information or document as required by sub-section (3) of section 92D, the Assessing
Officer 3
or the Transfer Pricing Officer as referred to in section 92CA or the Commissioner (Appeals)
may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of the
2
international transaction or specified domestic transaction for each such failure.
Notes
1. Ins. by Act 14 of 2001, s. 91 (w.e.f. 1-4-2002).
2. Subs. by Act 23 of 2012, s. 102, for “international transaction” (w.e.f. 1-4-2013).
3. Ins. by Act 25 of 2014, s. 72 (w.e.f. 1-10-2014).
2. Subs. by Act 23 of 2012, s. 102, for “international transaction” (w.e.f. 1-4-2013).
3. Ins. by Act 25 of 2014, s. 72 (w.e.f. 1-10-2014).