If any person fails to—(a)deduct the whole or any part of the tax as required under Chapter XIX-B; or(b)pay or ensure the payment of, the whole or any part of the tax as required by or under—(i)Note 2 below the Table in section 393(3); or(ii)Note 6 to section 393(1) (Table: Sl. No. 8), then, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to deduct or pay or ensure payment of, as aforesaid.[Similar to Section 271C from The Income Tax Act, 1961-Also Refer]
