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2020 (8) TMI 762 - AT - Income TaxPenalty u/s. 271G - assessee has entered into an international transactions with its AE and has failed to furnish documents or information as required under section 92D(3) - HELD THAT:- The fact of the present case are identical to the one dealt with by the tribunal in assessee group concern [2019 (9) TMI 1389 - ITAT MUMBAI] wherein factual aspects and case laws of Hon’ble Delhi High Court in the case of Leroy Somer & Controls (India) (P) Ltd [2013 (9) TMI 761 - DELHI HIGH COURT] we are of the view that the assessee has sufficiently complied with the requirement of Rule 10D(i) of the Rules and moreover the AO has not raised any specific issue which specific documents is not produced under section 92D(3), hence, we conclude that the assessee has furnished all the informations as asked for by the AO and unless and until a specific defect is pointed out in the submissions of documents, penalty under section 271G of the Act cannot be levied. We delete the penalty and allow the appeal of the assessee.
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