How can the order of Competition Commission imposing monetary penalty be executed under the Competition Act, 2002? Explain.

Section 39(1) of the Competition Act, 2002 provides that if a person fails to pay any monetary penalty imposed on him under the Act, the Competition Commission of India shall proceed to recover such penalty, in such manner as may be specified by the regulations. As per Section 39 (2) of the Act, in a case where the Commission is of the opinion that it would be expedient to recover the penalty imposed under the Act in accordance with the provisions of the Income-tax Act, 1961, it may make a reference to this effect to the concerned income-tax authority under that Act for recovery of the penalty as tax due under the said Act. Where a reference has been made by the Commission under sub-section (2) stated above for recovery of penalty, the person upon whom the penalty has been imposed shall be deemed to be the assessee in default under the Income Tax Act, 1961 and the provisions contained in sections 221 to 227, 228A, 229, 231 and 232 of the said Act and the Second Schedule to that Act and any rules made there under shall, in so far as may be, apply as if the said provisions were the provisions of this Act and referred to sums by way of penalty imposed under this Act instead of to income-tax and sums imposed by way of penalty, fine, and interest under the Income-tax Act, 1961 and to the Commission instead of the Assessing Officer.