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2019 (6) TMI 1419 - AT - Income TaxPenalty u/s 271G - assessee had clearly failed in maintaining the documentation as required under section 92D(3) - CIT-A deleted the penalty - HELD THAT:- As decided in M/S. DILIPKUMAR V LAKHI, [2018 (8) TMI 1778 - ITAT MUMBAI] the assessee had substantially complied with the directions of the TPO and placed on his record the requisite information, to the extent the same was practically possible in light of the very nature of its trade. We though are not oblivious of the fact that the assessee may not have effected absolute compliance to the directions of the TPO and furnished all the requisite details as were called for by him on account of practical difficulties as had been deliberated by us at length hereinabove, but however, in the backdrop of our aforesaid observations, we are of the considered view that the failure to the said extent on the part of the assessee to comply with the directions of the TPO can safely be held to be backed by a reasonable cause, which thus would bring the case of the assessee with the sweep of Sec. 273B of the ‘Act’. - Decided against revenue.
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