464. Penalty for failure to furnish statements, etc.
The Assessing Officer may impose a penalty which shall not be less than ₹10000 but which may extend up to ₹100000 on—(a)the research association, university, college or other institution referred to in section 45, if it fails to deliver or furnish the documents as may be prescribed under section 45(4)(a); or(b)the institution or fund, if it fails to deliver or cause to be delivered a statement within the time prescribed under section 354(1)(e), or furnish a certificate prescribed under section 354(1)(g).[Similar to Section 271K from The Income Tax Act, 1961-Also Refer]
