Held that the assessee rectified the defects pointed out by the prescribed authority and filed revised Form No. 61B within the time allowed under section 285BA(4). Hence penalty levied is deleted. (AY. 2018-19 to 2020-21)
Keb Hana Bank v. JDIT (2023) 226 TTJ 1 (UO) (Chennai)(Trib)
S. 271FAA : Penalty-Furnishing inaccurate statement of financial transaction or reportable account-Rectified the defects-Revised Form No 61B within the time allowed under section 285BA(4)-Penalty is deleted. [ S. 285BA(4), Form No 61B]