Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
44. Penalty for default in payment of tax arrears.
1. Every person who is an assessee in default, or an assessee deemed to be in default, as the case may be, in making payment of tax, and in case of continuing default by such assessee, he shall be liable to a penalty of an amount, equal to the amount of tax arrear.
2. An assessee shall not cease to be liable to any penalty under sub-section (1) merely by reason of the fact that before the levy of such penalty he has paid the tax.