[Failure to comply with notices.23. If any person fails, without reasonable cause, to produce or cause to be produced, any accounts or documents required to be produced under section 8, he shall pay by way of penalty, a sum which shall not be less than one thousand rupees, but which may extend to twenty-five thousand rupees, for each such failure.
72. Substituted for sections 23 to 26 by the Finance (No. 2) Act, 1991, w.e.f. 1-10-1991. Prior to substitution, said sections read as under :"23. Failure to deliver returns, etc.—If any person fails without reasonable cause to furnish in due time any return under sub-section (2) of section 7 or to produce, or cause to be produced, any accounts or documents required to be produced under section 8, he shall be punishable with fine which may extend to five hundred rupees and with a further fine which may extend to ten rupees for every day during which the default continues. 24. False statements.—If a person makes in any return furnished under section 7, any statement which is false and which he either knows or believes to be false, or does not believe to be true, he shall be punishable with simple imprisonment which may extend to six months, or with fine which may ext .... To read the full section download the app from Google Play store
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