Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2022 Year 2022 This

Penalty u/s 271FA - delay in filing of Form SFT as per Section ...

Case Laws     Income Tax

October 21, 2022

Penalty u/s 271FA - delay in filing of Form SFT as per Section 285 BFA - Since it was a statutory obligation on the part of the assessee bank to furnish AIR as a specified instruction u/s 285BA, therefore, any argument of the assessee with regard to ignorance of law or adopting casual and cavalier attitude is of no help to the assessee. - AT

View Source

 


 

You may also like:

  1. Penalty levied u/s 271FA for delay in filing Statement of Financial Transactions (SFT) was challenged. The assessee delayed 255 days in complying with Section 285BA,...

  2. The Appellate Tribunal held that the penalty u/s 271FA for delay in filing the Statement of Financial Transaction (SFT) without reasonable cause was justified. The SFT...

  3. Deduction u/s 80IA was allowed despite delay in filing Form 10CCB due to technical glitches on the Income Tax portal. The form was filed 1 hour 22 minutes after the due...

  4. Penalty proceedings u/s 271FA - late filing of the SFT statement Online by the appellant - appellant opted for the Vivad Se Vishwas Scheme and paid the due amount - Form...

  5. The ITAT Delhi ruled on penalty u/s 271FA for non-filing of return/Statement of Financial Transaction (SFT) u/s 285BA(1). Assessee reported no reportable transactions in...

  6. Exemption u/s 11 denied - delay in filing Form no. 10 - Department's objection that the audit report in Form no. 10B was also delayed and such delay had neither been...

  7. 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...

  8. Foreign Tax Credit u/s. 90 - Assessee did not file Form 67 at the time of filing of her return of income - Referring to established case law, the Tribunal affirmed that...

  9. Maintainability of first appeal before the tribunal or CIT(A) - Penalty u/s 271FA read with Section 274 - we are inclined to dismiss this appeal filed by the appellant...

  10. Denial of benefit u/s 115BAA of reduced rate of tax @22% - Domestic Companies - Condonation of delay in filing of Form No. 10-IC by the assessee - The Appellate Tribunal...

  11. Exemption u/s. 11 - claim denied as delay in filing audit report in Form 10B - the clarification in condoning the delay in filing Form 10B for A.Y. 2016-17 is binding on...

  12. Benefit of Reduction of late fee in case of delayed filing of FORM GSTR-5A withdrawn.

  13. Registration u/s 12A - Rejection of petitioner's application u/s 119(2)(b) for delay in filing audit report in Form-10B. Held that petitioners are entitled to succeed....

  14. The High Court allowed the petition, quashing and setting aside the impugned order rejecting the application for condonation of delay in filing Form 10B under the Income...

  15. Tribunal found assessee had reasonable cause for delay in furnishing Tax Audit Report due to delay in finalization of statutory audit arising from dispute between Board...

 

Quick Updates:Latest Updates