Income Tax Act, 1961
Section 271E. PENALTY FOR FAILURE TO COMPLY WITH THE PROVISIONS OF SECTION 269T.
(1) If a person repays any deposit referred to in section 269T otherwise than in accordance with the provisions of that section, he shall be liable to pay, by way of penalty, a sum equal to the amount of the deposit so repaid.
(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.