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. |
