2025Section 453
453. Penalty for failure to comply with provisions of section 188.
In the 1961 Act1 match · Unreviewed
- 1961 Section 271E
From the Income Tax Department's correspondence.
If a person repays any loan or deposit or specified advance referred to in section 188 otherwise than in accordance with the provisions of that section, the Assessing Officer may impose on him, a penalty equal to the loan or deposit or specified advance so repaid.