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<h1>Cash Repayment of Loans or Advances Breaches Section 269T, Inviting Penalty Under Section 271E of Income Tax Act</h1> Penalty under Section 271E of the Income Tax Act is imposed when a person repays a loan, deposit (including interest), or specified advance in cash, or in a manner that contravenes Section 269T. 'Specified advance' refers to any sum of money given as an advance related to the transfer of immovable property, regardless of whether the transfer occurs.