Penalty for failure to furnish statement.
172. Where an 1[assessee or e-commerce operator] fails to furnish the statement within the time prescribed under sub-section (1) or sub-section (3) of section 167, he shall be liable to pay a penalty of one hundred rupees for each day during which the failure continues.
Note:
1. Substituted for "assessee" by the Finance Act, 2020, w.e.f. 1-4-2020.