Section 46. Procedure

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

46. Procedure.-

(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,1[or the Joint Diretor] 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 1[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.

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