Section - 276DD

FaiIure to comply with the provisions of section 269SS

⁷³[FaiIure to comply with the provisions of section 269SS.

276DD. If a person ⁷⁴[* **] takes or accepts any loan or deposit in contravention of the provisions of section 269SS, he shall be punishable with imprisonment for a term which may extend to two years and shall also be liable to fine equal to the amount of such loan or deposit. ]

73Inserted by the Finance Act, 1984, w.e.f. 1-4-1984 and shall be omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

74",without reasonable cause or excuse," omitted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986, w.e.f. 10-9-1986.

[AS AMENDED BY THE FINANCE ACT, 1988]

Section 276DD

FaiIure to comply with the provisions of section 269SS

Footnotes