Amendment of section 171

In section 171 of the principal Act, after sub-section (3), the following shall be inserted, namely:— “(3A) Where the Authority referred to in sub-section (2), after holding examination as required under the said sub-section comes to the conclusion that any registered person has Profiteered under sub-section (1), such Person shall be liable to pay penalty equivalent to ten percent. of the amount so Profiteered: Provided that no penalty shall be leviable if the profiteered amount is deposited within thirty days of the date of Passing of the order by the Authority. Explanation.—For the Purposes of this section, the expression “profiteered” shall mean the amount determined on account of not