Penalty u/s 271FA - assessee responded to the notice by ...

Income Tax

February 1, 2019

Penalty u/s 271FA - assessee responded to the notice by furnishing the ‘Nil’ transactions - in the absence of reportable transaction, the assessee is not obliged to file the AIR and levy of penalty u/s 271FA is unjustified.

View Source

← Previous Next →

Penalty u/s 271FA - assessee responded to the notice by ...

Income Tax

February 1, 2019

You may also like:

Obligation to furnish statement of financial transaction or reportable account u/s 285BA and FATCA Agreement - Procedures and Manner and Conditions notified -...

Penalty u/s 271FA – Protection u/s 273B - Proper information not furnished by assessee – delay in furnishing the requisite AIR information by the appellant - bonafide...

Levy of penalty u/s 271FA - failure of the appellant in furnishing AIR in time - appellant had not established any reasonable cause for not filing AIR within time -...

Penalty u/s 271FA – AIR information not furnished by Sub Registrar - filer of the returns was habitual defaulter without any concern or respect for the law - HC

Reopening of assessment u/s 147 - bogus transactions or accommodation entries involving the assessee - the petitioner was issued a notice under section 133(6) of the...

Penalty u/s 271FA - Appellant failed to file the SFT [Statement of Financial Transaction] by due date - no malafides could be attributed to assessee so as to invoke...

Penalty u/s. 271G - assessee did not provide any basis for comparing the transactions and it failed to provide any alternative method to benchmark the transactions which...

Penalty u/s 271(1)(c) - absence of due care does not mean that the assessee is guilty of either furnishing inaccurate particulars or attempting to conceal its income -...

Penalty for failure to furnish annual information return - no appeal is provided under the Act against the penalty levied under section 271FA of the Act. Hence, the...

Penalty u/s 271FA - delay of 561 days in furnishing AIR u/s 285BA - No mala fides can be attributed to the assessee so as to invoke the penalty proceedings under section...

Quick Updates: