Penalty u/s 271(1)(c) & 271AA - It is mandatory requirement to obtain an independent accountant’s...

Penalty u/s 271(1)(c) & 271AA - It is mandatory requirement to obtain an independent accountant’s report/documents in respect of specified domestic transactions with Associated Enterprises as per Section 92D of the Act and this mandate cannot be diluted by the so called reasonable cause given under Section 273B - AO was right in imposing the penalty - AT .....

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