Income Tax : Understand the requirements and penalties associated with Statement of Financial Transaction. Learn about furnishing, rectifying d...
Income Tax : Avoid penalty u/s. 271FA for non-filing of Annual Information Return (AIR). Learn about the due date and consequences of non-compl...
Income Tax : Dont miss the deadline! File your belated income tax return by 31st March, 2020 to avoid penalties. Learn more about the amended S...
Income Tax : Learn about the penalty provisions of section 271FA of the Income Tax Act and understand the consequences of failing to furnish th...
Income Tax : Understand the Statement of Financial Transactions (SFT) requirement under Section 285BA of the Income Tax Act. Learn who needs to...
Income Tax : Read about the case of Waghodia Urban Co. Op. Bank Limited vs. Director of Income Tax regarding a penalty levied under Section 271...
Income Tax : Read about Durgapur Steel Peoples’ Cooperative Bank Ltd vs Director of Income Tax case. ITAT Kolkata rules that non-filing of SF...
Income Tax : Explore the detailed analysis of Kesar Alloys & Metals Pvt. Ltd. vs. Director of Income Tax (ITAT Indore) case, focusing on penalt...
Income Tax : Explore the detailed analysis of the penalty imposed on Jhalawar Kendriya Sahakari Bank Ltd. by ITAT Jaipur in the case against AD...
Income Tax : Read how ITAT Delhi cancelled penalty u/s 271FA in Motor & General Finance Ltd. Vs ACIT case due to absence of reportable transact...
Assessee has not received advisory notice issued u/s 285 BA (5) and the show cause notice of penalty u/s 271FA due to change of mail id and further contended that, the delay in filing the return was not deliberate.
Understand the requirements and penalties associated with Statement of Financial Transaction. Learn about furnishing, rectifying defects, and avoiding non-compliance.
Avoid penalty u/s. 271FA for non-filing of Annual Information Return (AIR). Learn about the due date and consequences of non-compliance.
Dont miss the deadline! File your belated income tax return by 31st March, 2020 to avoid penalties. Learn more about the amended Section 139(4) and the reduced time limit.
Learn about the penalty provisions of section 271FA of the Income Tax Act and understand the consequences of failing to furnish the statement of financial transactions or reportable account.
Understand the Statement of Financial Transactions (SFT) requirement under Section 285BA of the Income Tax Act. Learn who needs to file and why.
Penalty under 271FA was unjustified as there was no requirement to file the AIR in absence of reportable transaction during the financial year and also, department did not make out a case that the assessee had the recorded re portable transactions in the relevant financial year.
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 […]
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 rank with the Director of Income-tax. The appeal can only be filed before a higher forum than the forum whose order is to be challenged and the higher forum is only Tribunal and before it the order of the Director of Income-tax can only be challenged by filing an appeal.
