Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (9) TMI 321 - HC - Income TaxPenalty u/s 271G – Refernce made to submit necessary documents - Held that:- Reference was not made to any particular or specific date by which assessee was required to submit the documents; or whether the same were furnished within 30 days or within the extended period of 30 days thereafter - Penalty u/s 271G cannot be imposed in this manner - A specific finding should be recorded on the date by which the assessee was required to furnish documents and whether documents were furnished, if not which documents were not furnished and whether any extension of time was granted by the Transfer Pricing Officer and if the required documents were then actually filed - The penalty order is bereft and devoid of the details and shows lack of application of mind - Transfer Pricing Officer had indicated that the AO might initiate proceedings u/s 271G but he also did not refer to date of notice, date of furnishing of information/documents etc. - There was no mandate or affirmative direction that penalty shall be imposed by the AO - the TPO had asked for specific details and documents and the details were fully complied - Compliance of the letter dated 12.06.2008 was made within period of 30 days on 25.06.2008 and then subsequently on 23.07.2008 - The date 23.07.2008 is within 60 days of issue of notice/letter dated 12.06.2008 – Decided against revenue.
|