Section 9 in The Companies (Profits) Surtax Act, 1964
9. Penalties.-
If the [Assessing Officer] [Substituted for the words "Income-tax Officer" by Act 04 of 1988, section 187], in the course of any proceedings under this Act, is specified that any person has, without reasonable cause, failed to furnish the return required under section 5, or to produce or cause to be produced the accounts, documents or other evidence required by the [Assessing Officer] [Substituted for the words "Income-tax Officer" by Act 04 of 1988, section 187] under sub-section (1) of section 6, or has concealed the particulars of the chargeable profits or has furnished inaccurate particulars of such profits, he may direct that such person shall pay, by way of penalty, in addition to the amount of surtax payable, a sum not exceeding -(a)where the person has failed to furnish the return required under section 5, the amount of [surtax chargeable under the provisions of this Act] [Substituted for the word "Surtax payable" by Act 26 of 1974, section 20];-(b)in any other case, the amount of surtax which would have been avoided if the return made had been accepted as correct :Provided that the [Assessing Officer] [Substituted for the words "Income-tax Officer" by Act 04 of 1988, section 187] shall not imposed any penalty under this section without the previous authority of the [Deputy Commissioner] [Substituted for the words "Inspecting Assistant Commissioner" by Act 04 of 1988, section 187].
