Penalty for non-payment of tax

If any assessee fails without reasonable cause, to make payment of any amount of tax within the time specified in the notice of demand, the assessing authority may, after giving him a reasonable opportunity of making his representation, impose upon him a penalty which shall not be less than twenty-five percentum but not exceeding fifty percentum of the amount of tax due and the penalty so imposed shall be in addition to the interest payable under subsection

1. (2) or sub-section
2. (3) of section 11.