Penalty u/s 271AA - failure of the assessee to report the ...

Case Laws Income Tax

April 18, 2023

Penalty u/s 271AA - failure of the assessee to report the intentional transactions - As seen that the AO wrongly applied the amended Section 271AA which is effective from the assessment year 2012-13. That apart, for the delay in furnishing an information, the same could be covered under Section 271G of the Act. However, the AO dropped the proposal to impose penalty under Section 271G of the Act. - HC

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Penalty u/s 271AA - failure of the assessee to report the ...

Case Laws Income Tax

April 18, 2023

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