Section 34 - Amendment of section 18A - Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986

34. Amendment of section 18A. In section 18A of the Wealth-tax Act, in sub-section (2),- (i) the words , without reasonable cause, shall be omitted; (ii) the following proviso shall be inserted at the end, namely :- Provided that no penalty shall be imposable under this sub-section, if the person proves that there was reasonable cause for the said failure. .