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 ... Summary
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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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