Failure to deduct tax at source: penalty equals the tax not deducted; similar penalties apply for prohibited loans or repayments. Insertion adds three penal sections: 271C imposes a penalty equal to the amount of tax not deducted under Chapter XVII-B; 271D imposes a penalty equal to the amount of any loan or deposit taken or accepted in contravention of section 269SS; and 271E imposes a penalty equal to the amount of any deposit repaid otherwise than in accordance with section 269T.
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Provisions expressly mentioned in the judgment/order text.
Failure to deduct tax at source: penalty equals the tax not deducted; similar penalties apply for prohibited loans or repayments.
Insertion adds three penal sections: 271C imposes a penalty equal to the amount of tax not deducted under Chapter XVII-B; 271D imposes a penalty equal to the amount of any loan or deposit taken or accepted in contravention of section 269SS; and 271E imposes a penalty equal to the amount of any deposit repaid otherwise than in accordance with section 269T.
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