No section 271-I Penalty for Non-Filing of Form 15CA/15CB on Import Payments

Kalathiya Impex Vs ACIT (ITAT Surat) No penalty under section 271-I was leviable for non filing of Form 15CA/15CB against the payment of import of goods Conclusion: No penalty under section 271-I was leviable against the payment of import of goods for non filing of Form 15CA/15CB as Income Tax Rules were amended w.e.f. from 16/12/215, in which the list of payments of specified nature mentioned in Rule 37BB, which did not require submission of Forms 15CA and 15CB, has been expanded from 28 to 33 which included advance payment against import. Held: Assessee was engaged in the business of manufac...