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CHAPTER XXII OFFENCES AND PROSECUTION Failure to produce accounts and documents. 1[481. If a person wilfully fails to comply with a direction issued to him under section 268 (5), he shall be punishable with simple imprisonment for a term up to six months, or with fine, or with both.”. ] Note:
1. Substituted by The Finance Bill 2026 dated 01.02.2026 w.e.f. 01.04.2026 For the Word 481. If a person wilfully fails to produce, or cause to be produced, the accounts and documents as are referred to in the notice served on him under section 268(1) on or before the date specified in suchnotice, or wilfully fails to comply with a direction issued to him under section 268(5), he shall be punishable with rigorous imprisonment for a term which may extend to one year and withfine. Shall be Substituted namely: 481. If a person wilfully fails to comply with a direction issued to him under section 268 (5), he shall be punishable with simple imprisonment for a term up to six months, or with fine, or with both.”.
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