271E. Penalty for failure to comply with the provisions of section 269-T.
(1)If a person repays any loan or deposit [or specified advance] [Inserted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.] referred to in section 269-T 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 loan or deposit [or specified advance] [Inserted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.] so repaid.(2)[ Any penalty imposable under sub-section (1) shall be imposed by the ] [ Inserted by Act 12 of 1990, Section 45 (w.r.e.f. 1.4.1990).][Joint Commissioner] [ Substituted by Act 21 of 1998, Section 3, for " Deputy Commissioner" (w.e.f. 1.10.1998).].]
