TMI Blog2012 (3) TMI 521X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has not been found to be false. The assessee admittedly is a corporate entity. The assessee can function only through its employees. If an employee leaves the services of the assessee company getting another employee to take over the job and get acclimatized and familiar to the functions originally done by the earlier employee would take time. This would be a reasonable cause. It is noticed that the ld. CIT(A) has also accepted this as reasonable cause. The claim of the assessee has also not been found to be false. In these circumstances, we are of the view that the ld. CIT(A) was right in deleting both the penalties u/s 271AA and 271G of the Act. Appeals of the Revenue are dismissed. - I.T.A. Nos. 1180 & 1181/Mds/2011 - - - Dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reversed. 4. In regard to Appeal in ITA No. 1181/Mds/2011, it was submitted by the ld. DR that the ld. CIT(A) had deleted the penalty on similar grounds as penalty u/s 271AA of the Act as also by accepting the cause explained by the assessee that the secretary of the company had left the company and the new secretary, who joined in October 2006, took considerable time to adapt to the new environment. It was also the submission that the ld. CIT(A) had deleted the penalties by holding that the values of international transactions have been accepted as genuine and no additions have been made in the case of the assessee. It was the submission that the order of the ld. CIT(A) was liable to be reversed and that of the Assessing Officer restor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on as to the documents which were not furnished. In fact, the order of the TPO shows that the details were called for and the assessee had submitted the details. Further perusal of the order of the TPO shows that the assessee had been asked to provide the details in 30 days. However, the details had been produced with delay of six months. A perusal of the order of the ld. CIT(A) clearly shows that the reason for delay in producing the documents was the resignation of the secretary and this claim of the assessee has not been found to be false. The assessee admittedly is a corporate entity. The assessee can function only through its employees. If an employee leaves the services of the assessee company getting another employee to take over the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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