failure to furnish information within a stipulated period
TRANSCRIPT
FAILURE TO FURNISH INFORMATION WITHIN A STIPULATED PERIOD
PR 3/2015DATE OF PUBLICATION : 29 JULY 2015
S 81
• The DGIR may by notice, under Section 81 of the Income Tax Act 1967 [“the Act”], require the person to provide information as requested by the competent authority within a specified time frame. Any person who, without reasonable excuse, fails to comply with such notice commits an offence under Section 120 of the Act.
Refer Example 5 except that the supporting document was not furnished.
RBSB failed to furnish the supporting document within the time specified in the notice of extension of time.Therefore the expense of RM250,000 will not be allowed as a deduction under subsection 39(1A) of the ITA.
