Section 271f

Ca devanshi gandhi ajani expert.

Section 271f. 271f if there is reasonable cause for belated filing of return in search cases. To furnish return of income if a person who is required. Section 153a starts with non obstante clause and the purpose is only to specify separate time limit for filing the return.

Penalty for failure to furnish return of income if a person who is required to furnish a return of his income as required under sub section 1 of section 139 fails to furnish such return before the end of the relevant assessment year he shall be liable to pay by way of penalty a sum of one thousand rupees. 29 april 2010 u s section 271f the powers given to the assessing officers are discretionary not mandatory so in the case if the income is above taxable limit the return filed after 31 03 08 for ay 2007 08 the ao may levy the penalty of sum mentioned above. 2 i we were not liable to file income tax return being income being below the maxium amount not liable to tax.

From a bare reading of section 139 and 153a it is evident that the provisions of section 271f are attracted when a person is required to furnish the return in accordance with section 139 1 or by provisos of that section. 271f of the income tax act the following section shall be substituted with effect from the 1st day of june 2002 namely 271f. If a person who is required to furnish a return of his income as required under sub section 1 of section 139 or by the provisos to that sub section fails to furnish such return before the end of the relevant assessment year the assessing officer may direct that such person shall pay by way of penalty a sum of five thousand rupees.

Must be deemed to have granted time up to the date of filing the return of income which power he undoubtedly had the question of levying any penalty under section 271 1 a on the basis of failure to furnish return within time would in no event arise under the income tax act 1961. As per amendment if a person who is required to furnish a return of his income under section 139 of income tax act 1961 fails to furnish such return before the end of the relevant assessment year. No penalty under sec 271f if there is reasonable cause for belated filing of return in search cases no penalty under sec.

Where a person has filed an application described in paragraph 2 that includes a certification under subsection b 2 a iv or j 2 a vii iv of section 505 of the federal food drug and cosmetic act 21 u s c.