Section 271D
Penalty for failure to comply with the provisions of section 269SS. Repealed
About this Act
An Act to consolidate and amend the law relating to income-tax and super-tax
2
(1) If a person takes
or accepts any loan or deposit 3
or specified sum in contravention of the provisions of section 269SS, he
shall be liable to pay, by way of penalty, a sum equal to the amount of the loan or deposit 3
or specified
sum so taken or accepted.
4 (2) Any penalty imposable under sub-section (1) shall be imposed by the 1 Joint Commissioner.
4 (2) Any penalty imposable under sub-section (1) shall be imposed by the 1 Joint Commissioner.
Notes
1. Subs. by Act 21 of 1998, s. 3, for “Deputy Commissioner” (w.e.f. 1-10-1998).
2. Section 271D renumbered as sub-section (1) thereof by Act 12 of 1990, s. 45 (w.e.f. 1-4-1990).
3. Ins. by Act 20 of 2015, s. 71 (w.e.f. 1-6-2015).
4. Ins. by Act 12 of 1990, s. 45 (w.e.f. 1-4-1990).
2. Section 271D renumbered as sub-section (1) thereof by Act 12 of 1990, s. 45 (w.e.f. 1-4-1990).
3. Ins. by Act 20 of 2015, s. 71 (w.e.f. 1-6-2015).
4. Ins. by Act 12 of 1990, s. 45 (w.e.f. 1-4-1990).