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of <h1>Penalty Imposed for Receiving Money in Violation of Section 269ST Under Section 271DA; Valid Reasons May Exempt Penalty.</h1> Section 271DA of the Income-tax Act, introduced by the Finance Act, 2017, stipulates a penalty for receiving sums in violation of section 269ST. If a person receives money contrary to section 269ST, they are liable to a penalty equal to the amount received. However, no penalty will be imposed if the person can demonstrate valid reasons for the contravention. The Joint Commissioner is responsible for imposing any penalties under this section.
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