Section 271FA

Penalty u/s. 271FA for non-filing of Annual Information Return (AIR)

Income Tax - Section 285BA of the Income-tax Act mandates furnishing of annual information return by the specified persons in respect of specified transactions within the time prescribed under sub-section (2) thereof. Sub-section (5) of the section empowers the Assessing Officer to issue notice if the annual information return has not been furnished b...

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No Penalty for Delay in filing AIR due to reasonable cause

Sub Registrar Dhansura Vs Director of Income Tax (ITAT Ahmedabad) - Sub Registrar Dhansura Vs DIT (ITAT Ahmedabad) Appellant is a Govt. servant and ld. AR stated that they have assigned job to submit AIR to some outsources agency and sometime staff of the outsources agency become careless. In these case, appellant is a newly incumbent with the office and was not awa...

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Order of DIT cannot be challenged before Commissioner (Appeals)

Raibareilly District Co-operative Bank Ltd. Vs DCIT (ITAT Lucknow) - In the instant case, undeniably the order under section 271FA was passed by the Director of Income-tax who is equivalent in rank with the Commissioner (Appeals). Therefore, the order of the Director of Income-tax cannot be challenged or assailed by filing an appeal before an Officer,i.e., the Commis...

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Recent Posts in "Section 271FA"

No Penalty for Delay in filing AIR due to reasonable cause

Sub Registrar Dhansura Vs Director of Income Tax (ITAT Ahmedabad)

Sub Registrar Dhansura Vs DIT (ITAT Ahmedabad) Appellant is a Govt. servant and ld. AR stated that they have assigned job to submit AIR to some outsources agency and sometime staff of the outsources agency become careless. In these case, appellant is a newly incumbent with the office and was not aware of the income […]...

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Order of DIT cannot be challenged before Commissioner (Appeals)

Raibareilly District Co-operative Bank Ltd. Vs DCIT (ITAT Lucknow)

In the instant case, undeniably the order under section 271FA was passed by the Director of Income-tax who is equivalent in rank with the Commissioner (Appeals). Therefore, the order of the Director of Income-tax cannot be challenged or assailed by filing an appeal before an Officer,i.e., the Commissioner (Appeals), who is equivalent in r...

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Penalty u/s. 271FA for non-filing of Annual Information Return (AIR)

Section 285BA of the Income-tax Act mandates furnishing of annual information return by the specified persons in respect of specified transactions within the time prescribed under sub-section (2) thereof. Sub-section (5) of the section empowers the Assessing Officer to issue notice if the annual information return has not been furnished b...

Read More
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