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

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.