Penalty for tax default: Assessing Officer may direct penalties subject to cap and procedural safeguards. Penalty for tax default is payable in addition to arrears and interest and is directed by the Assessing Officer, including further penalties for continuing default, subject to a total cap not exceeding the tax in arrears; no penalty shall be levied without a reasonable opportunity to be heard or where the default is shown to be for good and sufficient reasons; prior payment of tax does not negate penalty liability, and penalties are cancelled and refunded if a final order wholly reduces the underlying tax.