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        Section 31 - Insertion of new section 276DD

        Finance Act, 1984
        Chapter III
        DIRECT TAXES
        INCOME-TAX

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        Penalty for contravening section 269SS: criminal sanction with imprisonment and a fine equal to the loan or deposit. Failure to comply with section 269SS is made a criminal offence by insertion of section 276DD, penalising any person who, without reasonable cause or excuse, takes or accepts any loan or deposit in contravention of section 269SS with imprisonment for a term which may extend to two years and a fine equal to the amount of the loan or deposit accepted.
                          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 contravening section 269SS: criminal sanction with imprisonment and a fine equal to the loan or deposit.

                                Failure to comply with section 269SS is made a criminal offence by insertion of section 276DD, penalising any person who, without reasonable cause or excuse, takes or accepts any loan or deposit in contravention of section 269SS with imprisonment for a term which may extend to two years and a fine equal to the amount of the loan or deposit accepted.


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