Section 4 - Insertion of new section 276E - Income Tax (Second Amendment) Act, 1981

4. Insertion of new section 276E. After section 276D of the principal Act, the following section shall be inserted, namely:- 276E. Failure to comply with the provisions of section 269T. If a person, without reasonable cause or excuse, repays any deposit referred to in section 269T otherwise than in accordance with the provisions of that section, he shall be punishable with imprisonment for a term which may extend to two years and shall also be liable to fine equal to the amount of such deposit. .