[13. Penalty for concealment of chargeable interest.--If the Assessing Officer or the Commissioner (Appeals) in the course of any proceeding under this Act, is satisfied that any person has concealed the particulars of chargeable interest or has furnished inaccurate particulars of such interest, he may direct that such person shall pay by way of penalty, in addition to any interest-tax payable by him, a sum which shall not be less than, but shall not exceed three times, the amount of interest-tax sought to be evaded by reason of the concealment of particulars of his chargeable interest or the furnishing of inaccurate particulars of such chargeable interest.]
Section 13: Penalty for concealment of chargeable interest.
The Interest-tax Act, 1974Central Act · Act 45 of 1974
Where this provision sits
| Act | The Interest-tax Act, 1974 |
|---|---|
| Section | 13 |
| Marginal note | Penalty for concealment of chargeable interest. |
| Jurisdiction | Central |
| Status | In 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.
- substituted, Act 49 of 1991. . Subs. by Act 49 of 1991, s. 101, for sections 11 to 13 (w.e.f. 1-10-1991).
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