Imposition of penalty

Imposition of penalty. —

1. (1) If any person—
   • (a) being required under this Act to furnish a return, fails to furnish such return; or
   • (b) being an importer, fails to pay within the time allowed, any tax due under this Act; or
   • (c) fails to comply with any of the provisions of this Act or the rules; the assessing authority may, after giving such person a reasonable opportunity of being heard, direct that such person shall pay, by way of penalty, in addition to the tax and interest, if any, a sum not exceeding one and a half times the amount of tax: Provided that no penalty shall be imposed under this sub-section for the failure referred to in clause
   • (b) in a case where the importer proves to the satisfaction of the assessing authority that the failure was due to circumstances beyond his control.
2. (2) The amount of penalty imposed under sub-section
3. (1) shall be paid by the person concerned in the prescribed manner within thirty days from the date of service of the notice of demand.