Failure to furnish tax returns and concealment of income triggers statutory penalties tied to tax sought to be evaded. Section 271 empowers tax authorities to impose penalties where a person fails to file returns, comply with notices, conceals particulars of income or fringe benefits, or furnishes inaccurate particulars. Penalties vary by default type: separate regimes apply for non furnishing or late filing, non compliance with notices, and concealment or inaccurate disclosure; the latter are linked to the amount of tax sought to be evaded as determined by specified formulas and deeming explanations including consequences of search and tracing of prior years. Firms and partner distributions receive specific treatment.