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2022 (8) TMI 900 - AT - Income TaxPenalty u/s 271G - physically filed revised Form No. 3CEB revised form No. 3CEB was not filed online by the assessee thereby specifying revised Domestic Transaction - What amounts to non-furnishing of the relevant documents or non-reporting of transaction of Specified Domestic Transaction? - As per DR requirement under Section 92D(3) was not fulfilled by the assessee relating to the furnishing of correct information - CIT-A deleted penalty levy - HELD THAT:- It is pertinent to note that the revised Form No.3CEB dated 18.03.2016 was filed by the assessee related to claim under Section 80IA - penalty order under Section 271G has stated that the assessee has not filed revised form No.3CEB online. This amounts to admitting that the assessee has physically filed revised Form No.3ECB on 18.03.2016 which cannot be stated as non-furnishing of the relevant documents or non-reporting of transaction of Specified Domestic Transaction. Reliance of the Ld. AR upon the decision of Bumi Hiway [2014 (9) TMI 321 - DELHI HIGH COURT] is very apt in the present assessee’s case wherein it is held that where the Transfer Pricing Officer had asked for specific details and documents so these requirements were fully complied with by the assessee company, penalty under Section 271G could not be imposed. Besides this, the Transfer Pricing Officer vide notice dated 10.08.2017 under Section 92D(3) had asked for information related to the transactions which were submitted by the assessee vide submissions dated 17.08.2017. CIT(A) has given detailed finding and there is no need to interfere with the same. Thus, the CIT(A) has rightly allowed the appeal of the assessee. Appeal of the Revenue is dismissed.
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