463. (1) Any accountant or merchant banker or registered valuer, shall be liable to pay a penalty of ?10000 for any incorrect information in any report or certificate furnished under any provision of this Act or the rules made thereunder. (2) The penalty under sub-section (1) shall be payable for each such report or certificate. (3) The penalty under sub-section (1) shall be payable on directions of the Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals) where the incorrect information mentioned in sub-section (1) is found by such authority in the course of any proceedings under this Act. (4) In this section,— (a) “merchant banker” means Category I merchant banker registered with the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992; and (b) “registered valuer” means a person registered as a valuer under section 514.