Penalty under s 271FA is leviable if the assessee fails to respond to the notice for failure of filing annual information return

By TG Team Income Tax Judiciary April 24, 2011

TaxGuru Citation: 2011 taxguru.in 358
Case Name: Patan Nagrik Sahakari Bank Ltd Vs DIT(CIB) (Gujarat High Court)
Appeal Number: Only available for paid members
Date of Judgement/Order: Only available for paid members
Courts: All High Courts, Gujarat High Court

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Penalty under s 271FA – Failure to file annual information return — The penalty under s 271FA is leviable if the assessee fails to respond to the notice for failure of filing annual information return — as held by Gujrat High Court in Patan Nagrik Sahakari Bank Ltd Vs DIT(CIB); Special Civil Application No. 14675 of 2010, 22 April 2011 Decided on: 4 March 2011 — In favor of: The Assessee.

Patan Nagrik Sahakari Bank Ltd Vs DIT(CIB)

High Court of Gujarat

Special Civil Application No. 14675 of 2010

Harsha Devani and H B Antani, JJ

Decided on: 4 March 2011

Counsel appeared:

Mr J P Shah with Mr Manish J Shah for the appellant

Mr M R Bhatt, Sr Adv and Mrs Mauna M Bhatt for the respondent

Judgment

Per: Harsha Devani, J:

By this petition under Article 226 of the Constitution of India, the petitioner has challenged the order dated 9th September, 2010 passed by the Director of Income Tax (CIB), Ahmedabad under section 271FA of the Income Tax Act, 1961 (the Act), imposing penalty of Rs. 1,13,880/- (Rs. 100/- for each day of default for delay of 1138 days) in filing annual information return under the Act.