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Income Tax - Highlights / Catch Notes

Home Highlights February 2019 Year 2019 This

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


Penalty u/s 271FA Deemed Unjustified for Assessee Due to Absence of Reportable Transactions in AIR Filing.

February 1, 2019

Case Laws     Income Tax     AT

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.

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