https://www.taxtmi.com/caselaws?id=754923 The Tribunal upheld the penalty imposed under section 271FA of the Income Tax Act for the assessee's delay in filing the SFT statement, citing a lack of reasonable cause. The appeal was dismissed, affirming the lower authorities' decision. The Tribunal emphasized the necessity of compliance with section 285BA for timely financial transaction reporting. en-us Mon, 01 Jul 2024 00:00:00 +0530 Wed, 03 Jul 2024 08:44:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754923 The Tribunal upheld the penalty imposed under section 271FA of the Income Tax Act for the assessee's delay in filing the SFT statement, citing a lack of reasonable cause. The appeal was dismissed, affirming the lower authorities' decision. The Tribunal emphasized the necessity of compliance with section 285BA for timely financial transaction reporting. Case-Laws Income Tax Mon, 01 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754923