Penalty u/s 271BA - non furnishing of Report u/s 92E - in ...

Case Laws Income Tax

June 6, 2019

Penalty u/s 271BA - non furnishing of Report u/s 92E - in Section 271BA words used is “may” and not “shall”, thereby making intentions clear that levy of penalty is discretionary and not automatic - it was the first year for the assessee and same was filed in the assessment proceedings itself - even otherwise qua the domestic transactions with its sister concern no additions made by the AO/TPO - bonafide mistake - no penalty

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Penalty u/s 271BA - non furnishing of Report u/s 92E - in ...

Case Laws Income Tax

June 6, 2019

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