Substitution of new section for section 18A

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..... ion shall be substituted, namely :- '18A. Penalty for failure to answer questions, sign statements, furnish Information, allow inspection, etc. (1) If any person,- (a) being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by a wealth-tax authority in the exercise of his powers under this Act; or (b) refuse .....

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..... h such person is bound to furnish to the Assessing Officer under section 38, he shall pay, by way of penalty, a sum which shall not be less than one hundred rupees but which may extend to two hundred rupees for every day during which the failure continues; Provided that no penalty shall be imposable under this sub-section if the person proves that there was reasonable cause for the said failure. .....

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