2023 (8) TMI 1661

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....hishek Kumar For the Revenue : Shri Rishi Kumar Bisen ORDER PER BENCH: These eight appeals by the assessee are directed against the consolidated order passed by the CIT(A)-2, Nagpur on 12-10-2018 upholding the penalty imposed by the Assessing Officer (AO) u/s.271FA of the Income-tax Act, 1961 (hereinafter also called 'the Act') for the assessment years 2008-09 to 2015-16. Since common ....

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....obligation came to its notice and was immediately complied with for all the years under consideration. In the opinion of the AO, the assessee ought to have the knowledge about its obligation to file the AIR. Rejecting the assessee's contention, he imposed penalty u/s.271FA for all the years under consideration as follows : ITA No. Penalty Amount 36/Nag/2019 Rs.2,94,600/- 37/Nag/2019....

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....s under consideration immediately on coming to know of it. Section 271FA imposes penalty in case of default under section 285BA. However, section 271FA is included u/s.273B, which provides that the penalty should not be imposed under the concerned sections where there exists a reasonable cause for the failure. Thus, section 271FA is subject to section 273B. The result is that if there exists a rea....