Penalty for failure to collect or pay commodities transaction tax.

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..... ay commodities transaction tax. 111. Any assessee who— (a) fails to collect the whole or any part of the commodities transaction tax as required under section 106; or (b) having collected the commo .....

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..... way of penalty, a sum equal to the amount of commodities transaction tax that he failed to collect; and (ii) in the case referred to in clause (b), in addition to paying the tax in accordance with t .....

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