271J. Penalty for furnishing incorrect information in reports or certificates.

Without prejudice to the provisions of this Act, where the Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals), in the course of any proceedings under this Act, finds that an accountant or a merchant banker or a registered valuer has furnished incorrect information in any report or certificate furnished under any provision of this Act or the rules made thereunder, the Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals) may direct that such accountant or merchant banker or registered valuer, as the case may be, shall pay, by way of penalty, a sum of ten thousand rupees for each such report or certificate.