1(1) If a person repays any 2loan or deposit 3or specified advance referred to in section 269T otherwise than in accordance with the provisions of that section, he shall be liable to pay, by way of penalty, a sum equal to the amount of the 2loan or deposit 3or specified advance so repaid.
4(2) Any penalty imposable under sub-section (1) shall be imposed by the
Joint Commissioner.
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1. Section 271E renumbered as sub-section (1) thereof by Act 12 of 1990, s. 46 (w.e.f. 1-4-1990).
2. Subs. by Act 32 of 2003, s. 95, for "Deposit" (w.e.f. 1-6-2003).
3. Ins. by Act 20 of 2015, s. 72 (w.e.f. 1-6-2015).
4. Ins. by 12 of 1990, s. 46 (w.e.f. 1-4-1990).
Section 271C Penalty for failure to deduct tax at source
Section 271CA Penalty for failure to collect tax at source
Section 271D Penalty for failure to comply with the provisions of section 269SS
Section 271DA Penalty for failure to comply with provisions of section 269ST
Section 271E Penalty for failure to comply with the provisions of section 269T
Section 271F Penalty for failure to furnish return of income
Section 271FA Penalty for failure to furnish statement of financial transaction or reportable income
Section 271FB Penalty for failure to furnish return of fringe benefits