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Gift - Tax Act, 1958


17. Penalty for failure to furnish returns, to comply with notices and concealment of gifts, etc.

  1. If the Gift-tax Officer, Appellate Assistant Com missioner, 5[Commissioner (Appeals),]
    Commissioner or Appellate Tribunal, in the course of any proceedings under this Act, is satisfied that any person-

  1. has without reasonable cause failed to furnish the return required to be furnished under sub-section (1) of section 13 or by notice given under sub-section (2) of section 13 or section 16 or has, without reasonable cause, failed to furnish it within the time allowed and in the manner required by subsection (1) of section 13 or by such notice, as the case may be; or

  2. has without reasonable cause failed to comply with a notice under subsection (2) or sub-section (4) of section 15.; or

  3. has concealed the particulars of any gift or deliberately furnished inaccurate particulars thereof,
    he or it may, by order in writing, direct that such person shall pay by way of penalty-

  1. in the cases referred to in clause (,a), in addition to the amount of the gift-tax, if any, payable by him, a, sum equal to two, per cent. of the assessed tax for every month during which the default continued, 4***

Explanation.-In this clause, "assessed tax" means the gift-tax chargeable under the provisions of this Act as reduced by the amount, if any, for which credit is allowed under section18.]

  1. in the cases referred to in clause (b), in addition to the amount of gift-tax payable by him, a sum which shall not be less than ten per cent. but which shall not exceed fifty per cent. of the amount of the tax, if any, which would. have been avoided if the return made by such person had been accepted as correct;

  1. Subs. by Act 53 of 1962 s. 14, for s. 17 (w.e.f. 1-4-1963)

  2. Subs. by Act 26 of 1974, s. 18 (w.e.f. 1-4-1963)

  3. Ins. by Act 41 of 1975, s. 112 (w.e.f. 1-10-75)

  4. Omitted by S. 113, ibid. (w.e.f. 1-4-76)

  5. Ins. by Act 29 of 1977, s. 39 & Sch. V (w.e.f. 10.7.1978)880

  1. in the cases referred to in clause (c) in addition to any gift-tax payable by him, a sum which shall not be less than twenty per cent. but which shall not exceed one and half times the amount of the tax, if any, which would have been avoided if the return made by such person had been accepted as correct.

  1. No order imposing a penalty under sub-section (1) shall be made unless the assessee has been heard or has been given a reasonable opportunity of being heard.

  2. Notwithstanding anything contained in clause (iii) of sub-, section (1), if in a case falling under clause (c) of that sub-section, the minimum penalty impossible exceeds a sum of rupees one thousand, 3[the Gift-tax Officer shall not make any order for payment, by way of penalty, without the previous approval of the Inspecting Assistant Commissioner]

  3. An Appellate Assistant Commissioner, 6[a Commissioner (Appeals), a Commissioner or the Appellate Tribunal] on making an order under this section imposing penalty, shall forthwith send a copy of the same to the Gift-tax Officer.]



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