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Court allows petitioners to upload 2019-2020 returns with new SBI account, no penalty within a month The court allowed the petitioners to upload their annual returns for the year 2019-2020 by specifying the subsequently opened SBI account number. No ...
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Court allows petitioners to upload 2019-2020 returns with new SBI account, no penalty within a month
The court allowed the petitioners to upload their annual returns for the year 2019-2020 by specifying the subsequently opened SBI account number. No penalty would be charged if the returns were uploaded within one month. The petitions were disposed of in these terms, and all pending applications were also disposed of accordingly.
Issues Involved: The issues in the judgment include seeking directions to allow filling and uploading Form FC-4 for filing annual returns for the financial year 2019-2020, interpretation of the Foreign Contribution Regulation Act, 2010 (FCRA) amendment, and the requirement of SBI account details for foreign contribution receipts.
Comprehensive details of the judgment for each issue involved:
1. The petitions were filed seeking directions to allow filling and uploading Form FC-4 for filing annual returns for the financial year 2019-2020. The Foreign Contribution Regulation Act, 2010 (FCRA) was amended, and the amended Section 17 required foreign contributions to be received in an account designated as "FCRA Account" by the bank. The petitioners faced technical deficiencies as the Form FC-4 required SBI account details as of 31st March 2020, which could not be provided due to the timeline of the FCRA amendment. The court noted that similar issues had been considered previously in other cases.
2. In a previous case, it was observed that the Form FC-4 required details of the FCRA account as on 31st March of the relevant year, specifically in the SBI branch. Since the petitioners had opened their FCRA accounts later, they were permitted to fill up the account details in the form and submit the same. No coercive steps were to be taken against the petitioners for opening the FCRA account belatedly, as they claimed not to have received any foreign contributions in the relevant years.
3. The court allowed the petitioners to upload their annual returns for the year 2019-2020 by specifying the subsequently opened SBI account number. If the returns were uploaded within one month, no penalty would be charged. The petitions were disposed of in these terms, and all pending applications were also disposed of accordingly.
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