https://www.taxtmi.com/highlights?id=44242 Penalty u/s 271FA - assessee responded to the notice by furnishing the ‘Nil’ transactions - in the absence of reportable transaction, the assessee is not obliged to file the AIR and levy of penalty u/s 271FA is unjustified. en-us Fri, 01 Feb 2019 10:48:16 +0530 Fri, 01 Feb 2019 10:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=44242 Penalty u/s 271FA - assessee responded to the notice by furnishing the ‘Nil’ transactions - in the absence of reportable transaction, the assessee is not obliged to file the AIR and levy of penalty u/s 271FA is unjustified. Highlights Income Tax Fri, 01 Feb 2019 10:48:16 +0530 https://www.taxtmi.com/highlights?id=44242