Penalty for failure to deduct tax at source.271C.
(1) If any person
fails to— (a
) deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; or (b
) pay the whole or any part of the tax as required by or under— (i
) sub-section (2) of section 115-O
; or (ii
) the second proviso to section 194B
,then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to deduct or pay as aforesaid.(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.