Section 28 - Insertion of new section 278AA - Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986

28. Insertion of new section 278AA. After section 278A of the Income-tax Act, the following section shall be inserted, namely :- 278AA. Punishment not to be imposed in certain cases. Notwithstanding anything contained in the provisions of section 276A, section 276AB, section 276B, section 276DD or section 276E, no person shall be punishable for any failure referred to in the said provisions if he proves that there was reasonable cause for such failure. .