Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2023 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 696 - CALCUTTA HIGH COURTPenalty u/s 271AA - scope of amended Section 271AA - failure of the assessee to report the intentional transactions and also to furnish incorrect information in the return of income with reference to such international transactions - HELD THAT:- As seen that the AO wrongly applied the amended Section 271AA which is effective from the assessment year 2012-13. That apart, for the delay in furnishing an information, the same could be covered under Section 271G of the Act. However, the AO dropped the proposal to impose penalty under Section 271G of the Act. Further, for non-filing of Form-3CEB as per Section 92E of the Act within the due date of filing the return, the Assessing Officer had already levied penalty under Section 271BA of the Act. Decided against revenue.
|