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Finance Act, 2020 103. Insertion of new section 285BB. - After section 285BA of the Income-tax Act, the following section shall be inserted with effect

furnished Annual Information Return (hereinafter "AIR") as required u/s 285BA(1) read with Rule 114E of Income tax Rules for the financial ... Since the assessee has not filed the AIR u/s 285BA(1) of the Act, the DIT issued a notice u/s 285BA

assessee has not filed the Annual Information Return (AIR) under the Section 285BA(2) of the Act r.w. Rule 114E ... Further there was a Bona Fide belief that the provisions under Section 285BA(2) of the Act shall not apply.The Assessing Officer

required is required to be filed as per provisions of section 285BA(2) read with Rule 114E of the Income Tax Rules beyond ... hence the assessee has complied with the notice issued u/s 285BA(5) of the Act. He submitted that the amendment made in Rule 114E

financial transactions required to be furnished under sub-section (1) of Section 285BA of the Act in Form 61-A. This Rule provides that return

obligation to supply „large transaction list" to the Department vide provision 285BA of the Act. As per Section 114E of the Income Tax Rules ... considering the argument of the Assessing Officer, the section 285BA of the Income Tax Act r.w.r 114E of the Income Tax Rules

Finance Act, 2020 UNION OF INDIA India Finance Act, 2020 Act 12 of 2020 Published