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2022 (5) TMI 1279 - ITAT MUMBAIPenalty u/s 271G - non furnishing of segmental transaction has hampered the TPO from benchmarking various transactions - HELD THAT:- From the facts of the case, it is evident that the Assessee has furnished the necessary details for determination of the arm’s length price though (ALP) was unable to provide segment-wise profit & loss account of the AE segment and the non AE segment since the Assessee did not maintain separate books of account for AE & non AE segments. As it is noticed that the co-ordinate bench of this Tribunal in Deputy Commissioner of Income Tax 10(1)(2), Mumbai vs Kama Schachter Jewellery (P) Ltd [2021 (2) TMI 1132 - ITAT MUMBAI] has decided this issue with identical facts relating to furnishing of segmental data of Profit & Loss Account of AE and non AE segment has deleted the penalty levied under section 271G. - Decided against revenue.
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