47Penalty for fraudulently or negligently making incorrect returns, etc.
(1)Where a person fraudulently or negligently—
(a)delivers any incorrect return or statement of a kind mentioned in any of the provisions specified in the first column of the Sixth Schedule to this Act; or
(b)makes any incorrect return, statement or declaration in connection with any claim for any allowance, deduction or relief; or
(c)submits to the surveyor or any Commissioners any incorrect accounts in connection with the ascertainment of his liability to income tax;
he shall be liable to a penalty not exceeding the aggregate of—
(i)fifty pounds ; and
(ii)the amount or, in the case of fraud, twice the amount of the difference specified in subsection (1) of section forty-eight of this Act.
(2)Where a person fraudulently or negligently furnishes, gives, produces or makes any incorrect information, certificate, document, record or declaration of a kind mentioned in any of the provisions specified in the second or third column of the Sixth Schedule to this Act he shall be liable to a penalty not exceeding two hundred and fifty pounds, or, in the case of fraud, five hundred pounds.
(3)Where any such return, statement, declaration or accounts as are mentioned in subsection (1) of this section were made or submitted by any person neither fraudulently nor negligently and it comes to his notice (or, if he has died, to the notice of his personal representatives) that they were incorrect, then, unless the error is remedied without unreasonable delay, the return, statement, declaration or accounts shall be treated for the purposes of this section as having been negligently made or submitted by him.