Section 2

[114A. Penalty for short-levy or non-levy of duty in certain cases . — Where the duty has not been levied or has been short -levied or the interest has not been charged or paid or has been part paid or the duty or interest has been erroneously refunded by reason of collusion or any wilful mis-statement or suppression of facts, the person who is liable to pay the duty or interest, as the case may be, as determined under 3 [subsection (8) of section 28] shall , also be liable to pay a penalty equal to the duty or interest so determined:]

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2 [114A. Penalty for short-levy or non-levy of duty in certain cases . — Where the duty has not been levied or has been short -levied or the interest has not been charged or paid or has been part paid or the duty or interest has been erroneously refunded by reason of collusion or any wilful mis-statement or suppression of facts, the person who is liable to pay the duty or interest, as the case may be, as determined under 3 [subsection (8) of section 28] shall , also be liable to pay a penalty equal to the duty or interest so determined:]