Section 46. Punishment for contravention in relation to failure to furnish information, declaration or return.

Any person who being required by or under this Act to furnish any-- (a) information; (b) declaration; or (c) return, fails to furnish such information, declaration or return shall be punishable with fine which may extend to one lakh rupees, and in the case of continuing default, with a further fine which may extend to one lakh rupees for every day during which such default continues after conviction for the first such default, or with imprisonment for a term which may extend to three years, or with both.