Penalty for inaccurate reporting extended to all persons covered under subsection (1) of section 285BA by amendment to section 271FAA. The amendment broadens the penalty for furnishing an inaccurate statement of financial transaction or reportable account by removing a limiting reference so that the penalty applies to all persons falling within the statutory reporting-obligation category rather than only a narrower subset, with a specified commencement date for operation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for inaccurate reporting extended to all persons covered under subsection (1) of section 285BA by amendment to section 271FAA.
The amendment broadens the penalty for furnishing an inaccurate statement of financial transaction or reportable account by removing a limiting reference so that the penalty applies to all persons falling within the statutory reporting-obligation category rather than only a narrower subset, with a specified commencement date for operation.
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