Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions.

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..... p and maintain information and document, etc., in respect of certain transactions. 442. (1) The Assessing Officer or Commissioner (Appeals) may impose a penalty of 2% of the value of each internation .....

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..... o in section 171(4) may impose a penalty of five lakh rupees on a person, if he fails to furnish the information and document required under the said section. - Clause 442 of the Bill seeks to impo .....

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