Section 271FA of the Income Tax Act

Income-tax Act, 2025: s.454

Section 271FA of the Income-tax Act, 1961 corresponds to section 454 (Penalty for failure to furnish statement of financial transaction or reportable account) of the Income-tax Act, 2025.

Read section 454 of the 2025 Act

Correspondence checked against the ICAI tabular mapping of the two Acts and the BharatTax.co section commentary.

The decision most relied on for Section 271FA is Durgapur Steel Peoples’ Cooperative Bank Ltd. v. Director of Income Tax (74 Taxmann.com 97), cited in 13 of the 190 judgments on BharatTax that turn on this section.

Leading authorities on Section 271FA

Durgapur Steel Peoples’ Cooperative Bank Ltd. v. Director of Income Tax
74 Taxmann.com 97 · 2016 · ITAT
13
citing judgments

The ITAT noted that the assessee's counsel relied on this decision in conjunction with another case concerning co-operative banks before the Delhi Tribunal. This suggests the case is authority for issues relevant to co-operative banks, likely concerning the application of income tax provisions.

Durgapur Steel Peoples' Cooperative Bank Ltd. v. Director of Income-tax (Intelligence & Criminal Investigation), Kolkata
72 Taxmann.com 306 · 2016 · ITAT
4
citing judgments

Judgments on Section 271FA

Shree Kadi Nagarik Sahakari Bank Ltd, Kadi vs. Addl/Jdit(I&Ci), Ahmedabad

In the result, both the appeals of the assessee are allowed for statistical purpose

ITA 1258/AHD/2026[2019-20]Status: DisposedITAT Ahmedabad06 Oct 2026AY 2019-20

Bench: Shri Narendra Prasad Sinha & Shri Sanjay Kumar

Section 271FSection 273BSection 285B

Shree Kadi Nagarik Sahakari Bank Ltd, Kadi vs. Addl/Jdit(I&Ci), Ahmedabad

In the result, both the appeals of the assessee are allowed for statistical purpose

ITA 1257/AHD/2026[2019-20]Status: DisposedITAT Ahmedabad06 Oct 2026AY 2019-20

Bench: Shri Narendra Prasad Sinha & Shri Sanjay Kumar

Section 271FSection 273BSection 285B

Sub-Registrar Office Siyana, Siyana vs. Joint Director of Income Tax, I&Ci, Kanpur

In the result, the appeal is allowed

ITA 6467/DEL/2026[2017-18]Status: DisposedITAT Delhi07 Sept 2026AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Sanjay Awasthi

Section 2Section 250Section 253(3)Section 271FSection 273B

Bangiya Gramin Vikash Bank (Presently Known As West Bengal Gramin Bank), Murshidabad vs. ITO, Ward 42(1), Murshidabad

The appeals of the assessee are allowed

ITA 2592/KOL/2025[2022-2023]Status: DisposedITAT Kolkata26 Feb 2026AY 2022-2023

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri Soumitra Choudhury &For Respondent: Ms. Archana Gupta, DR
Section 143(3)Section 144BSection 36(1)(va)

Bangiya Gramin Vikash Bank (Presently Known As West Bengal Gramin Bank), Murshidabad vs. JCIT(I & Ci) - 1, Kolkata

The appeals of the assessee are allowed

ITA 2591/KOL/2025[2021-2022]Status: DisposedITAT Kolkata26 Feb 2026AY 2021-2022

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri Soumitra Choudhury &For Respondent: Ms. Archana Gupta, DR
Section 143(3)Section 144BSection 36(1)(va)

District Cooperative Bank Limited, Shahjahanpur vs. Addl/Jdit (I & Ci), Lucknow

In the result, both appeals in ITA Nos

ITA 79/LKW/2025[2021-2022]Status: DisposedITAT Lucknow30 Jan 2026AY 2021-2022
For Appellant: Sh. B.P. Yadav, AdvFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR
Section 271FSection 285

District Cooperative Bank Limited, Shahjahanpur, Bshahjahanpur vs. Addl / Jdit (I & Ci), Lucknow

In the result, both appeals in ITA Nos

ITA 78/LKW/2025[2019-2020]Status: DisposedITAT Lucknow30 Jan 2026AY 2019-2020

Bench: SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SH. NIKHIL CHOUDHARY (Accountant Member)

For Appellant: Sh. B.P. Yadav, AdvFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR
Section 271FSection 285

District Cooperative Bank Ltd., Raebarely Uttar Pradesh vs. Addl/Jdit(I&Ci), Lucknow

In the result, the appeal of the assessee stands allowed

ITA 761/LKW/2024[2021-22]Status: DisposedITAT Lucknow29 Oct 2025AY 2021-22

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 271FSection 285B

The Mandvi Mercantile Co-Op Bank Ltd, Mandvi vs. Addl/Jdit (I&Ci), Ahmedabad

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 121/AHD/2025[2021-22]Status: DisposedITAT Ahmedabad30 Sept 2025AY 2021-22

Bench: Shri Siddhartha Nautiyal (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 250Section 271FSection 285B

Anand Rathi Share and Stock Brokers Limited, Mumbai vs. Deputy Commissioner of Income Tax Central Circle 5(1), Mumbai

In the result, all the appeals of the assessee are allowed

ITA 4414/MUM/2025[2021-22]Status: DisposedITAT Mumbai14 Aug 2025AY 2021-22

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Bharat KumarFor Respondent: 05/08/2025
Section 271FSection 273B

Anand Rathi Share and Stock Brokers Limited, Mumbai vs. Deputy Commissioner of Income Tax Central Circle 5(1), Mumbai

In the result, all the appeals of the assessee are allowed

ITA 4413/MUM/2025[2020-21]Status: DisposedITAT Mumbai14 Aug 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Bharat KumarFor Respondent: 05/08/2025
Section 271FSection 273B

Anand Rathi Share and Stock Brokers Limited, Mumbai vs. Deputy Commissioner of Income Tax Central Circle 5(1), Mumbai

In the result, all the appeals of the assessee are allowed

ITA 4412/MUM/2025[2019-20]Status: DisposedITAT Mumbai14 Aug 2025AY 2019-20

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Bharat KumarFor Respondent: 05/08/2025
Section 271FSection 273B

Anand Rathi Share and Stock Brokers Limited, Mumbai vs. Dy. Commissioner of Income Tax Central Circle 5(1), Mumbai

In the result, all the appeals of the assessee are allowed

ITA 4155/MUM/2025[2018-19]Status: DisposedITAT Mumbai14 Aug 2025AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Bharat KumarFor Respondent: 05/08/2025
Section 271FSection 273B

Archana Prashant Date, Pune vs. ITO, Ward 11(1), Pune

In the result, the appeal of the assessee is partly allowed

ITA 2472/PUN/2024[2013-14]Status: DisposedITAT Pune05 Mar 2025AY 2013-14

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2472/Pun/2024 िनधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Sarang GudhateFor Respondent: Shri Ramnath P. Murkunde
Section 142(1)Section 144Section 147Section 250Section 271(1)(b)Section 274

M/S District Co-Operative Bank Ltd., Barabanki vs. Joint Director of Income Tax (I& Ci ), Lucknow

In the result, the appeal of the assessee is dismissed as withdrawn

ITA 682/LKW/2018[2017-18]Status: DisposedITAT Lucknow26 Dec 2024AY 2017-18

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 246ASection 271Section 271F

Meet Forex Private Limited, Delhi vs. ACIT(I&Ci), New Delhi

In the result, the appeal of the assessee is allowed

ITA 2936/DEL/2022[2018-19]Status: DisposedITAT Delhi15 Oct 2024AY 2018-19

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singh[Assessment Year: 2018-19]

Section 2Section 271FSection 273BSection 285BSection 285B(1)

The Waghodia Urban Co. Op, Bank Ltd., Vadodara vs. The Director of Income Tax (I & Ci), Ahmedabad

In the result, appeal filed by the assessee is dismissed

ITA 813/AHD/2023[2019-20]Status: DisposedITAT Ahmedabad17 Apr 2024AY 2019-20

Bench: Ms. Suchitra Kambleassessment Year: 2019-20

Section 271FSection 274Section 285B

Bajaj Steel Industries Ltd., Nagpur vs. Director of Income Tax, Nagpur

In the result, appeal of the assessee is allowed for statistical purpose

ITA 56/NAG/2023[2018-19]Status: DisposedITAT Nagpur10 Apr 2024AY 2018-19

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.56/Nag/2023 िनधा"रणवष" / Assessment Year :2018-19 Bajaj Steel Industries Ltd., The Director Of Income C-108, Hingna Road, Midc V Tax, Industrial Area, Hingna, S Intelligence & Criminal Investigation, 3Rd Floor, Nagpur – 440028. Pan: Aaacb5340H Room No.301, Aayakar Bhawan, Civil Lines, Nagpur – 440001. Appellant/ Assessee Respondent/Revenue Assessee By Shri Rajesh Loya – Ca-Ar Revenue By Shri Abhay Y. Marathe – Sr.Dr Date Of Hearing 27/03/2024 Date Of Pronouncement 10/04/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals) Passed U/S250 Of The Income Tax Act, 1961 Emanating From The Penalty Order Under Section 271Fa Of The Act Dated 27.09.2019 Passed By Director Of Income Tax(Intelligence & Bajaj Steel Industries Ltd., [A]

Section 2Section 250Section 27Section 271FSection 285Section 285B

Ravinder Hooda, Rohtak vs. Jt DIT (I and Ci), Chandigarh

ITA 2555/DEL/2023[2018-19]Status: HeardITAT Delhi23 Feb 2024AY 2018-19

Bench: Shri Kul Bharat[Assessment Year : 2018-19] Ravinder Hooda, Vs Jt Dit (I & Ci), H.No.308/6, Sir Chhotu Ram Chandigarh. Colony, Gali No.8, Sukhpura Chowk, Rohtak, Haryana-124001. Pan-Aclph6161Q Appellant Respondent Appellant By Shri Subodh Jain, Adv. & Shri Samyak Jain, Ca Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 21.02.2024 Date Of Pronouncement 23.02.2024

Section 271F

Banprabha Real Estate Pvt. Ltd. Nirmal Chhaya, Behind Block Office, Khutehi, Rewa-486001, Rewa vs. Asst Commissioner of Income Tax, Circle Satna, Satna

In the result, the appeal of the assesse is allowed

ITA 92/JAB/2023[2017-18]Status: DisposedITAT Jabalpur30 Nov 2023AY 2017-18

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. K.P Dewani, AdvFor Respondent: Sh. Ravi Mehrotra, JCIT-DR
Section 27Section 271Section 271ASection 271BSection 271CSection 271ESection 271FSection 271GSection 272ASection 272B