741/CBDT.

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..... t penalty not exceeding twice the amount of the estate duty, if any, which would have been avoided, if the principal value drawing the account of such person had been accepted as correct can be imposed in case a default is committed u/s 60(1)(b) or 60(1)(d) of the Estate Duty Act, 1953. The Board have come across a few cases where the penalties imposed u/s 60(1)(a) of the Estate Duty Act were wi .....

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..... s of the reduced duty and not below that amount. It has, however, to be remembered that the rectification u/s 61 can be made only within the time-limit laid down in the section. These instructions may be brought to the notice of all the officers working in your charge. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanag .....

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