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2022 (10) TMI 171 - AT - Income TaxPenalty levied u/s 271AA - assessee company had not kept and maintained the information and documents as required by Sub-section (1) or subsection (2) of section 92D - AO is also influenced by the fact that the assessee has entered into international transactions during the year under consideration - HELD THAT:- There is no dispute that the assessee has maintained requisite documentation in respect of its reported international transaction of FTS and FIS and has also furnished details of various documentations maintained by it. We further find that the Assessing Officer has not specified the documents/information which, in his view, were required to be kept and maintained u/s 92D(1) and 92D(2)of the Act r.w.r 10D of the Rules but were not kept and maintained by the assessee. Coming to the decision of this Tribunal in Assessment Year 2006- 07 and 2008-09 [2020 (10) TMI 615 - ITAT DELHI] we find that the entire basis for deciding the issue in favour of the Revenue relates to the observations given in respect of independent accountant’s report/documents for specified domestic transactions whereas in the present assessment, there is not even a whisper of any specified domestic transactions. Therefore, the reference to the order of this Tribunal in earlier Assessment Years by the ld. DR would do no good to the Revenue, as the facts are totally different. - Decided against revenue.
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