Penalty for failure to furnish information or document under section 92D.271G.
If any person
who has entered into an international transaction or speci- fied domestic transaction fails to furnish any such information or document as required by sub-section (3) of section 92D
, the Assessing Officer
or the Transfer Pricing Officer as referred to in section 92CA
or the Commissioner (Appeals)
may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of the international transaction or specified domestic transaction for each such failure.