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2012 (4) TMI 114 - AT - Income TaxAssessee filed a return declaring a loss - scrutiny with the service of notice u/s 143(2) of the Act - A.O noticed that the assessee had entered into international transactions with its A.E – TPO suggested initiation of penalty proceedings u/s 271AA, 271G and 271BA - Ld. CIT(A) deleted the penalty levied by the AO as the appellant had submitted chronology of events before the TPO – Held that:- In the penalty orders passed by the AO,there is nothing to suggest as to which particular information or document was not submitted by the assessee nor the exact nature of default has been brought out - the Revenue have not placed any material, controverting the findings of the ld. CIT(A) to enable take a different view in the matter – appeal of revenue dismissed.
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