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Section 46: Procedure.

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015Central Act · Act 22 of 2015

(1) The tax authority shall, for the purposes of imposing any penalty under this Chapter, issue a notice to an assessee requiring him to show cause why the penalty should not be imposed on him.

(2) The notice referred to in sub-section (1) shall be issued—

(a) during the pendency of any proceedings under this Act for the relevant previous year, in respect of penalty referred to in section 41;

(b) within a period of three years from the end of the financial year in which the default is committed, in respect of penalties referred to in section 45.

(3) No order imposing a penalty under this Chapter shall be made unless the assessee has been given an opportunity of being heard.

(4) An order imposing a penalty under this Chapter shall be made with the approval of the Joint Commissioner, [or the Joint Director] if—

(a) the penalty exceeds one lakh rupees and the tax authority levying the penalty is in the rank of Income-tax Officer; or

(b) the penalty exceeds five lakh rupees and the tax authority levying the penalty is in the rank of Assistant Commissioner or Deputy Commissioner [or Assistant Director or Deputy Director].

(5) Every order of penalty issued under this Chapter shall be accompanied by a notice of demand in respect of the amount of penalty imposed and such notice of demand shall be deemed to be a notice under section 13.

Where this provision sits

ActThe Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Section46
Marginal noteProcedure.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 13 of 2018. . Ins. by Act 13 of 2018, s. 219 (w.e.f. 1-4-2018).

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