Yes. In terms of Section 122(2), the non-payment of tax or short payment of tax or erroneous refund without intention to evade (i.e. not involving fraud or any wilful misstatement or suppression of facts to evade tax) would attract a penalty of ` 10,000/- or 10% of the tax due, whichever is higher.
(ICAI FAQ PUBLICATIONS 06-09-2017 Penalty for certain offences: FAQ NO. 6)