https://www.taxtmi.com/highlights?id=68534 Penalty u/s 271FA - Appellant failed to file the SFT [Statement of Financial Transaction] by due date - no malafides could be attributed to assessee so as to invoke penalty proceedings under section 271FA and DIT should have taken note that breach was only technical or venial breach of provisions and such breach could have flown from bonafide ignorance of assessee that he was liable to act in manner prescribed by statute, and should not have invoked penalty proceedings. - AT en-us Wed, 01 Mar 2023 12:11:46 +0530 Wed, 01 Mar 2023 12:11:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68534 Penalty u/s 271FA - Appellant failed to file the SFT [Statement of Financial Transaction] by due date - no malafides could be attributed to assessee so as to invoke penalty proceedings under section 271FA and DIT should have taken note that breach was only technical or venial breach of provisions and such breach could have flown from bonafide ignorance of assessee that he was liable to act in manner prescribed by statute, and should not have invoked penalty proceedings. - AT Highlights Income Tax Wed, 01 Mar 2023 12:11:46 +0530 https://www.taxtmi.com/highlights?id=68534