TMI Blog2022 (2) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... lf of MTML. The said payment was made in India on the account of payment of salary in the bank accounts of the employees sent on deputation to MTML. MTNL was under a bonafide belief that the above transaction is not an international transaction. However, when made aware it was realized that such a transaction would be covered under the ambit of International Transaction. The salary payment made by the MTNL to the employees of MTNL deputed to MTML has been reimbursed by the MTML. It is also a matter on record that the Form No. 3CEB has been filed before the AO. Also considered the issue of loans advances outstanding as on 30.01.2013 between MTNL and MTML. Based on the adjustments as suggested by TPO, the revised statement of income f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . - Decided in favour of assessee. - ITA No. 7087/Del/2018 - - - Dated:- 14-2-2022 - Sh. Amit Shukla, Judicial Member And Dr. B. R. R. Kumar, Accountant Member Assessee by : Sh. Ved Jain, Adv. Revenue by : Sh. B. M. Singh, Sr. DR ORDER Per Dr. B. R. R. Kumar, Accountant Member The present appeal has been filed by the assessee against the order of the ld. CIT(A)-22, New Delhi dated 27.08.2018. 2. Following grounds have been raised by the assessee: 1. Commissioner of Income Tax (Appeals) [(CIT(A)] is bad both in the eye of law and on facts. 2. On the facts and circumstances of the case, the learned Commissioner of Income Tax (Appeals) [CIT(A)] has erred both on facts and in law in confirming the action o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic telephone and mobile services in the city of Delhi and Mumbai. The assessee company is Government of India PSU and a major player in the country in Telephone Services. It has also host of services like internet service provider services, IN services, integrated service digital network services, multimedia services, paging services and other value added services and to carry on the business of telephone, telegraph cable and wireless company etc. MTNL is also engaged in providing telecommunication services like internet, e-tendering, cyber cafe services and sale of ISP packs Anmol Cards. 4. The AO levied penalty of ₹ 1,00,000/- u/s. 271BA of the Income Tax Act, 1961 on account of non-filing of report of accountant as required u/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. MTNL was under a bonafide belief that the above transaction is not an international transaction. However, when made aware it was realized that such a transaction would be covered under the ambit of International Transaction. The salary payment made by the MTNL to the employees of MTNL deputed to MTML has been reimbursed by the MTML. It is also a matter on record that the Form No. 3CEB has been filed before the AO. 9. We have also considered the issue of loans advances outstanding as on 30.01.2013 between MTNL and MTML. 10. Based on the adjustments as suggested by TPO, the revised statement of income for the relevant assessment year and form 3CEB was filed before the assessment of the said year and the assessment was completed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of sub-section (1) of section 271, section 271A, section 271AA section 271B, section 271BA, section 271BB, section 271C, section 271CA, section 271D, section 271E, section 271F, section 271FA, section 271FAB, section 271FB, section 271G, section 271GA, section 271GB, section 271H, section 271-I, [section 271J,] clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272A, sub-section (1) of section 272AA or section 272B or sub-section (1) or sub-section (1A) of section 272BB or sub-section (1) of section 272BBB or clause (b) of sub-section (1) or clause (b) or clause (c) of sub-section (2) of section 273, no penalty shall be imposable on the person or the assessee, as the case may be, for any failure referred to in the sai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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