# The Finance Act, 1986, Section 35: Insertion of new section 272AA

- Act: The Finance Act, 1986 (Act 23 of 1986)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1986/section/35/

## Text

Insertion of new section 272AA. 35. In the Income-tax Act, after section 272A, the following section shall be inserted, namely :— Penalty for failure to comply with the provisions of section 133B 272AA. (1) If a person, without reasonable cause, fails to comply With the provisions of section 133B, be shall, on an order passed by the Inspecting Assistant Commissioner, Assistant Director of Inspection or the Income-tax Officer,'as the case may be, pay, by way of penalty a sum which may extend to one thousand rupees. (2) No order Under sub-section (1) shall be passed unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter.", [Finance Act, 1986] © Copyright. Taxmann Publications Pvt. Ltd.

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