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2019 (6) TMI 1292 - AT - Income TaxPenalty u/s 271G - alleged that assessee had clearly failed in maintaining the documentation as required u/s 92D(3) - assessment of the assessee was finalized u/s 92CA(3) - HELD THAT:- CIT(A) has passed the order on the basis of this fact that the assessee has furnished the relevant documents u/s 92D(3) r.w.r. 10D of the Act. The penalty is not laviable specifically on the facts and circumstances when the assessee submitted all the necessary/relevant information to the TPO which was not acceptable if any by TPO. CIT(A) has also relied upon the decision in the case of Annapurna Business Solution Vs. ACIT Circle 6(1) [2011 (12) TMI 224 - ITAT HYDERABAD] The facts are not distinguishable at this stage also. The basic requirement of Section 271G of the Act is that the assessee failed to submit the relevant information/document required u/s 992D(3) of the Act. But in the instant case, the necessary information was given but was not acceptable by TPO so these facts nowhere entitled the TPO to levy the penalty. No law contrary to the law relied upon the CIT(A) if any has not been produced before us. CIT(A) has decided the matter of controversy judiciously and correctly which is not liable to be interfere with at this appellate stage. - Decided against revenue.
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