ITAT Bangalore Deletes Section 271FAA Penalty for SFT Delay

Senior Sub-Registrar Vs Joint /Additional Director of Income Tax (ITAT Bangalore) Penalty u/s 271FAA Deleted – Delay in Filing SFT Correction Due to Technical & Administrative Difficulties Held Reasonable – ITAT Bangalore Grants Relief to Govt. Authority In ITA No.2312/Bang/2025, AY 2021-22, the Senior Sub-Registrar, a State Government reporting entity u/s 285BA, challenged penalty of ₹50,000 levied u/s 271FAA for failure to submit corrected Statement of Financial Transactions (Form 61A). CIT(A) had dismissed the appeal in limine by refusing to condone a delay of 102 days. The Tribun...