Penalty for failure to comply with the provisions of section 269T.

11[(1)] If a person repays any 12[loan or deposit] 13[or 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 12[loan or deposit] 13[or specified advance] so repaid.]

14[(2) Any penalty imposable under sub-section (1) shall be imposed by the 5[Joint Commissioner].]

¹ Ins. by Act 4 of 1988, s. 108, (w.e.f. 1-4-1989).

² Subs. by Act 26 of 1997, s. 53, for sub-section (1), (w.e.f. 1-6-1997). Earlier it was amended by Act 12 of 1990, s. 44 (w.e.f. 1-4-1990).

⁴ Ins. by s. 44, ibid (w.e.f. 1-4-1990).

⁵ Subs. by Act 21 of 1998, s. 3, for “Deputy Commissioner” (w.e.f. 1-10-1998).

⁶ Ins. by Act 21 of 2006, s. 52 (w.e.f. 1-4-2007).

⁸ Ins. by Act 20 of 2015, s. 71 (w.e.f. 1-6-2015).

⁹ Ins. by Act 12 of 1990, s. 45 (w.e.f. 1-4-1990).

¹⁰ Ins. by Act 7 of 2017, s. 85 (w.e.f. 1-4-2017).

¹² Subs. by Act 32 of 2003, s. 95, for “Deposit” (w.e.f. 1-6-2003).

¹³ Ins. by Act 20 of 2015, s. 72 (w.e.f. 1-6-2015).

¹⁴ Ins. by 12 of 1990, s. 46 (w.e.f. 1-4-1990).

3. Section 271C renumbered as sub-section (1) thereof by Act 12 of 1990, s. 44 (w.e.f. 1-4-1990). 7. Section 271D renumbered as sub-section (1) thereof by Act 12 of 1990, s. 45 (w.e.f. 1-4-1990). 11. Section 271E renumbered as sub-section (1) thereof by Act 12 of 1990, s. 46 (w.e.f. 1-4-1990).