Penalty for non-compliance with section 188: Assessing Officer may impose a penalty equal to the repaid amount. Where a person repays any loan, deposit or specified advance referred to in section 188 otherwise than in accordance with that section's provisions, the Assessing Officer is empowered to impose a penalty equal to the amount so repaid; Clause 453 of the Bill implements this monetary-equivalent sanction and vests the Assessing Officer with the authority to levy it.