(1)Without prejudice to the provisions of the Act, the Assessing Officer may direct that a person shall pay by way of penalty, if, he -(a)fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C; or(b)furnishes incorrect information in the statement which is required to be delivered or caused to be delivered under sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C.
