§448
Section 448 — Penalty for failure to deduct tax at source
In plain terms: This section allows a penalty equal to the tax not deducted (or not paid, in the notes it refers to) where a person fails to deduct TDS as required.
If any person fails to--
(a) deduct the whole or any part of the tax as required under Chapter XIX-B; or
(b) pay or ensure the payment of, the whole or any part of the tax as required by or under--
(i) Note 2 below the Table in section 393(3); or
(ii) Note 6 to section 393(1) (Table: Sl. No. 8),
then, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to deduct or pay or ensure payment of, as aforesaid.