1Without prejudice to the provisions of this Act, where the Assessing Officer
or the Commissioner (Appeals), in the course of any proceedings under this Act,
finds that an accountant or a merchant banker or a registered valuer has
furnished incorrect information in any report or certificate furnished under any
provision of this Act or the rules made thereunder, the Assessing Officer or the
Commissioner (Appeals) may direct that such accountant or merchant banker or
registered valuer, as the case may be, shall pay, by way of penalty, a sum of
ten thousand rupees for each such report or certificate.
Explanation.- For the purposes of this section,-
(a) "accountant" means an accountant referred to in the Explanation below sub-section (2) of section 288;
(b) "merchant banker" means Category I merchant banker registered with the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992.
(c) "registered valuer" means a person defined in clause (oaa) of section 2
of the Wealth-tax Act, 1957.
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1. Ins. by Act 7 of 2017, s. 87 (w.e.f. 1-4-2017).
Section 271G Penalty for failure to furnish information or document under section 92D
Section 271GA Penalty for failure to furnish information or document under section 285A
Section 271H Penalty for failure to furnish statements, etc
Section 271J Penalty for furnishing incorrect information in reports or certificates
Section 272AA Penalty for failure to comply with the provisions of section 133B
Section 272B Penalty for failure to comply with the provisions of section 139A
Section 272BB Penalty for failure to comply with the provisions of section 203A
Section 272BBB Penalty for failure to comply with the provisions of section 206CA