(1)If any person,-(a)being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by an income-tax authority in the exercise of its powers under this Act; or(b)refuses to sign any statement made by him in the course of any proceedings under this Act, which an income-tax authority may legally require him to sign; or(c)to whom a summons is issued under sub-section (1) of section 131 either to attend to give evidence or produce books of account or other documents at a certain place and time omits to attend or produce books of account or documents at the place or time; or[* * *]he shall pay, by way of penalty, [a sum of ten thousand rupees] [ Substituted by Act 14 of 2001, Section 92, for " a sum which shall not be less than five hundred rupees but which may extend to ten thousand rupees" (w.e.f. 1.6.2001).] for each such default or failure.
