9911796707
TMI Blog2014 (9) TMI 321X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal in the impugned order has specifically records and notices that the Transfer Pricing Officer in his order dated 17.10.2008 had accepted and recorded that required documents were submitted. After discussion with the representative of the respondent assessee no adverse conclusion was drawn. No addition was made to the Arm's Length Price on international transactions entered into by the respondent assessee during the period in question. 3. Thus, it is not the case of the revenue that the relevant documents as mandated under Section 92D read with Rule 10D were not furnished to the Transfer Pricing Officer. The question raised is whether there was any delay in submission of the said documents. The Assessing Officer vide order dated 29.03 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a deliberate default of the assessee. Therefore, I am convinced that the assessee had committed default for imposition of penalty u/s, 271 G of the Act. Hence, penalty u/s. 271G of the Act, 1961 leviable in this case is Rs. 1484099/- (2% of 74204992/-). Therefore, penalty of Rs. 1484099 is hereby imposed. This penalty order is being passed with the prior approval of the Addl. CIT, Range-3, New Delhi vide letter No. Addl. CITIR-3/Approval-Penalty/2010-1113244 dated 29.3.2011I. Issue necessary forms." 6. What is clearly discernable from the penalty order is that reference was not made to any particular or specific date by which assessee was required to submit the documents; or whether the same were furnished within 30 days or within the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w whether any extension of time was prayed for or granted by the Transfer Pricing Officer and whether any hearing was fixed by the Transfer Pricing Officer pursuant to notice dated 12.03.2007. It appears that the Transfer Pricing Officer had asked for specific details and documents vide letter dated 12.06.2008 and these details were fully complied with on 25.06.2008 and 23.07.2008. Compliance of the letter dated 12.06.2008 was made within period of 30 days on 25.06.2008 and then subsequently on 23.07.2008. The date 23.07.2008 is within 60 days of issue of notice/letter dated 12.06.2008. We do not know the documents filed on 25.06.2008 and which documents or details were subsequently filed on 23.07.2008. There is no discussion on the said as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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