Penalty provision amendment replaces rigorous imprisonment with simple imprisonment and fine under the income-tax offence section.

The penalty provision in section 483 of the Income-tax Act is amended by substituting the punishment prescribed in sub-section (1). The earlier reference to rigorous imprisonment for a minimum term with fine is replaced with simple imprisonment for a term up to two years and with fine. The amendment alters the nature and maximum duration of imprisonment under the offence provision while retaining the imposition of fine.

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