TMI BlogPenalty for failure to keep and maintain information and document, etc., in respect of certain transactions - Section 271AAX X X X Extracts X X X X X X X X Extracts X X X X ..... Section 271AA - Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions (1) Without prejudice to the provisions of section 270A or section 271 or s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner (Appeals) may direct that such person shall pay, by way of penalty, * a sum equal to 2% of the value of each international transaction or specified domestic transaction entered into by such per ..... X X X X Extracts X X X X X X X X Extracts X X X X
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