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2019 (3) TMI 690 - ITAT MUMBAIPenalty levied u/s 271G - assessee had not furnished the workings of AE and Non-AE segmental profitability as called for by him and accordingly, concluded that the relevant records in terms of Clause (g) and (h) of Rule 10D(1) was not maintained by the assessee - HELD THAT:- In the similar facts and circumstances, the Co-ordinate Bench of this Tribunal in assessee’s own case for the A.Yrs 2010-11 and 2012-13 had held that since there was no TP adjustment, there cannot be any levy of penalty u/s.271G of the Act. We also find that assessee had duly replied before the TPO in respect of queries raised by the TPO. TPO had accepted the stand of the assessee for A.Yrs. 2010-11 and 2012-13 also vide its order u/s.92CA(3) dated 31/12/2015, 25/01/2016 respectively wherein no penalty proceedings u/s.271G of the Act were initiated. This goes to prove that the Ld. TPO had understood the practical difficulty of the assessee before us and has decided not to initiate penalty u/s.271G of the Act. CIT(A) had placed reliance on the decision of the Jaipur Tribunal in the case of ACIT vs. Gillette India Ltd [2015 (1) TMI 918 - ITAT JAIPUR] which is also applicable to the facts of the instant case. In view of the aforesaid observations and respectfully following the aforesaid judicial precedents, we do not find any infirmity in the order of Ld. CIT(A) deleting the penalty u/s.271G of the Act in the peculiar facts and circumstances of the instant case before us. We would like to make it clear that the said decision shall not stand as a precedent for other cases. Accordingly, the grounds raised by Revenue are dismissed.
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