Section 10 - Insertion of new section 276AA - Income Tax (Amendment) Act, 1981

10. Insertion of new section 276AA. After section 276A of the principal Act, the following section shall be inserted, namely: - 276AA. Failure to comply with the provisions of section 269AB or section 269I. Whoever, without reasonable cause or excuse, fails to comply with the provisions of section 269AB or with any direction issued under sub-section (5) of section 2691 shall be punishable with rigorous imprisonment for a term which may extend to two years and shall also be liable to fine: Provided that in the absence of special and adequate reasons to the contrary to be recorded in the judgment of the court, such imprisonment shall not be for less than six months. .