Rule 10E — the law in short
What the courts have decided on section Rule 10E, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Faith Intertrade v ITO
ITATHelps taxpayerValidity unconfirmed
I obtained Form 3CEB from my accountant but never uploaded it, and the officer has levied the flat Rs 1 lakh penalty under s.271BA. Is that penalty automatic?
It is not automatic. Section 271BA says the officer 'may' direct payment of the penalty, not 'shall', and s.273B forbids the penalty where the assessee proves reasonable cause. The Tribunal quashed a Rs 1,00,000 penalty on an assessee who had obtained the accountant's report dated 7 September 2013 but failed to upload it electronically, in the first year in which specified domestic transactions were brought within s.92E, where the TPO had made no adjustment at all.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.