Penalty for failure to furnish statements may be imposed on research, educational and charitable institutions for non compliance. Section 271K empowers the Assessing Officer to direct a penalty for failure to deliver statements or to furnish prescribed certificates by research associations, universities, colleges, certain companies claiming deductions, and institutions or funds providing donation certificates, where those statements or certificates are not submitted within the time or form required, thereby creating a monetary compliance consequence for institutional non filing under the deduction and donation regimes.