Section 271E:
Penalty for failure to comply with the provisions of section 269T.
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.
Notes:
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).