Order under section 119 : Non-levy of penalty on delayed furnishing of Annual Information Return under section 285BA of the Income-tax Act - Income Tax - Nil

Order under section 119 : Non-levy of penalty on delayed furnishing of Annual Information Return under section 285BA of the Income-tax Act Circular No. Nil Dated 30/9/2005 To All the Chief Commissioners/ Directors-General of Income-tax. F. No. 153/220/2005—TPL, dated 30th September, 2005. In exercise of the powers conferred by section 119 of the Income-tax Act, the Central Board of Direct Taxes hereby direct not to levy penalty under section 271FA of the Income-tax Act in cases where Annual Information Return under section 285BA of the Income-tax Act in respect of specified financial transactions registered or recorded during the financial year 2004-2005 is furnished on or before 30th November, 2005. 2. This may be brought to the notice of all the officers working in your region. (Sd.) Sharat Chandra, Director, Government of India.