Section 271E: Penalty for failure to comply with the provisions of section 269T

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

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

(1) If a person repays any loan or deposit 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 loan or deposit or specified advance so repaid.

(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner:

[Provided that any penalty under sub-section (1), on or after the 1st day of April, 2025, shall be imposed by the Assessing Officer.]

Where this provision sits

Act	The Income-tax Act, 1961
Section	271E
Marginal note	Penalty for failure to comply with the provisions of section 269T
Jurisdiction	Central
Status	Repealed
Judgments citing it	6

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act No. 7 of 2025. Ins. by Act No. 7 of 2025, w.e.f. 1-4-2025.

Judgments that turned on this provision

WP/11064/2024 of PUTTAMADAIAH VISHAKANTA Vs ASSESSMENT UNITHigh Court of Karnataka · 2025-11-13
ITR/72/1999 of CIT PATIALA Vs M/S MAHAVIR TEXTILES CHD.High Court of Punjab and Haryana · 2006-12-08
ITA/102/1999 of THE COMMISSIONER OF IT JDR Vs M/S AVET CHEMICALSHigh Court of Punjab and Haryana · 2006-09-11

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