2021 (11) TMI 39

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....ana, Sr. D.R. ORDER Per Amarjit Singh, Accountant Member This assessee's appeal for A.Y. 2017-18, arises from order of the CIT(A), Ahmedabad dated 17-10-2017, in proceedings under section 271FA of the Income Tax Act, 1961; in short "the Act". 2. The solitary ground of appeal of the assessee is directed against the decision of ld. CIT(A) in levying penalty of Rs. 73,000/- u/s. 271F ....

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....ling of SFT return for F.Y. 2016-17 and it came to its knowledge only after a notice received by it from the office of the Director of Income Tax (I & CI) Ahmedabad on receipt of notice, the SFT return 014 for F.Y. 2016-17 was filed electronically on 28th March, 2019. The ld. counsel has also submitted that from Jan, 2017 premises of the company was under renovation therefore notices stated in the....

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....(I & CI) accordingly levied the penalty u/s. 271FA for the period of delay at Rs. 79,000/-. The penalty amount was worked out as under:- (a) Rs. 14,000/- For the delay of 140 days from 01/02/2017 to 20/06/2017@ Rs. 100/- per day; (b) Rs. 59,000/- For the delay of 118 days from 21/06/2017 to 16/10/2017 @ rate Rs. 500/- per day. The amount of penalty was computed as per the prov....