Section 107 - Insertion of new section 275B - Finance Act, 2002

107. Insertion of new section 275B.- After section 275A of the Income-tax Act, the following section shall be inserted with effect from the lst day of June, 2002, namely:- "275 B. Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132- If a person who is required to afford the authorised officer the necessary facility to inspect the books of account or other documents, as required under clause (iib) of sub-section (1) of section 132, fails to afford such facility to the authorised officer, he shall be punishable with rigorous imprisonment for a term which may extend to two years and shall also be liable to fine.".