Penalty Imposed for Not Filing Form 3CEB u/s 271BA; Ignorance Not Accepted as Reasonable Cause to Waive Penalty.

Levy of penalty u/s 271BA - failure to furnish report in form No. 3CEB as required u/s 92E r/w rule 10E - Mere ignorance and bonafide belief that will not be considered as reasonable cause to delete the penalty. .....

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