Amendment of Section 273

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....the Income-tax Officer, in the course of any proceedings in connection with the regular assessment for any assessment year, is satisfied that any assessee - (a) has furnished under clause (a) of sub-section (1) of section 209A a statement of the advance tax payable by him which he knew or had reason to believe to be untrue, or (b) has without reasonable cause failed to furnish a statement of t....

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.... of clause (a) of sub-section (1) of section 209A, whichever is less; (ii) which, in the case referred to in clause (b), shall not be less than ten per cent. but shall not exceed one and a half times of seventy-five per cent. of the assessed tax as defined in sub-section (5) of section 215."; (2) in sub-section (2) as so renumbered, - (a) for clause (a), the following clause shall be ....

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....tion 212", the words, brackets, figures and letters "sub-section (4) of section 209A or sub-section (3A) of section 212" shall be substituted; (e) for sub-clause (2) of clause (i), the following sub-clause shall be substituted, namely :- "(2) where a statement under clause (a) of sub-section (1) of section 209A was furnished by the assessee or where a notice under section 2....