Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Penalty for prohibited repayment: repayment contrary to prescribed rules triggers a penalty equal to the amount repaid. A penalty equal to the amount repaid is leviable where loans, deposits or specified advances are repaid otherwise than in accordance with the prescribed repayment restriction; the penalty is to be imposed by the Joint Commissioner, subject to a legislative change vesting imposition authority in the Assessing Officer from the specified future commencement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for prohibited repayment: repayment contrary to prescribed rules triggers a penalty equal to the amount repaid.
A penalty equal to the amount repaid is leviable where loans, deposits or specified advances are repaid otherwise than in accordance with the prescribed repayment restriction; the penalty is to be imposed by the Joint Commissioner, subject to a legislative change vesting imposition authority in the Assessing Officer from the specified future commencement.
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