2025Section 450
450. Penalty for failure to comply with provisions of section 185.
In the 1961 Act1 match · Unreviewed
- 1961 Section 271D
From the Income Tax Department's correspondence.
If a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of section 185, the Assessing Officer may impose on him, a penalty equal to the amount of the loan or deposit or specified sum so taken or accepted.