Dismissing the petition the court held that the Reason stated by petitioner, Sub-Registrar, that he was under a bona fide impression that annual information return (AIR) under section 285BA(1)(b) was already filed by his predecessor was not a reasonable cause to excuse delay of 525 days in submitting AIR and, therefore, penalty under section 271FA was rightly imposed upon petitioner. (AY. 2011-12)
Sub-Registrar, Sri. V.G. Cleetus v. DIT (Intelligence) (2023) 333 CTR 773 / 154 taxmann.com 546 (Ker)(HC)
S. 271FA : Penalty-Annual information return (AIR)-Failure to furnish-Delay of 525 days-No reasonable cause-Order imposing the penalty is affirmed.[S. 273B, 285BA(1)(b), Art. 226]