Section 54A - Penalty for failure to comply with notices or furnish information - Prohibition Of Benami Property Transactions Act, 1988

1 [Penalty for failure to comply with notices or furnish information. 54A. (1) Any person who fails to, (i) comply with summons issued under sub-section (1) of section 19; or (ii) furnish information as required under section 21, shall be liable to pay penalty of twenty-five thousand rupees for each such failure. (2) The penalty under sub-section (1) shall be imposed by the authority who had issued the summons or called for the information. (3) No order under sub-section (2) shall be passed by the authority unless the person on whom the penalty is to be imposed has been given an opportunity of being heard: Provided that no penalty shall be imposed if, such person proves that there were good and sufficient reasons which prevented him from complying with the summons or furnishing information. ] ********* Notes 1. Inserted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-09-2019