Penalty u/s 271FA - Appellant failed to file the SFT [Statement ...

Penalty Proceedings Unwarranted for Late SFT Submission Due to Technical Breach, No Malafide Intent Found u/s 271FA.

March 1, 2023

Case Laws Income Tax AT

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 proceedings under section 271FA and DIT should have taken note that breach was only technical or venial breach of provisions and such breach could have flown from bonafide ignorance of assessee that he was liable to act in manner prescribed by statute, and should not have invoked penalty proceedings. - AT

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Penalty u/s 271FA - Appellant failed to file the SFT [Statement ...

Penalty Proceedings Unwarranted for Late SFT Submission Due to Technical Breach, No Malafide Intent Found u/s 271FA.

March 1, 2023

Case Laws Income Tax AT

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