Substitution of new sections for sections 427 and 428.

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.... "427. (1) Without prejudice to the provisions of this Act, where any person fails to deliver or cause to be delivered a statement as per section 397(3)(b) within the time prescribed therein, he shall be liable to pay by way of fee, a sum of Rs. 200 for every day for which such failure continues. (2) The amount of fee referred to in sub-section (1) shall- (a) not exceed the a....

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....ection 263, fails to do so within the due date, as specified under sub-section (1) of the said section, he shall be liable to pay by way of fee,-- (i) a sum of Rs. 1000, if the total income of such person does not exceed Rs. 500000; and (ii) a sum of Rs. 5000, in any other case; (b) furnishes a return of income under section 263(5) beyond nine months from the end of rele....