Penalty u/s 271G - the basic requirement for penalty is that the ...

Penalty u/s 271G Not Justified for Submitted Info Rejected by TPO; Compliance with Section 92D(3) Met.

June 28, 2019

Case Laws Income Tax AT

Penalty u/s 271G - the basic requirement for penalty is that the assessee failed to submit the relevant information/document required u/s 992D(3) - the necessary information was given but was not acceptable by TPO so these facts nowhere entitled the TPO to levy the penalty

View Source

← Previous Next →

Penalty u/s 271G - the basic requirement for penalty is that the ...

Penalty u/s 271G Not Justified for Submitted Info Rejected by TPO; Compliance with Section 92D(3) Met.

June 28, 2019

Case Laws Income Tax AT

You may also like:

Bid-rigging cartel involving Toyfort, Austere Systems, and Fimo Info Solutions in soil testing tenders floated by Uttar Pradesh Agriculture Department contravened...

The case pertains to the levy of penalty u/s 271G for failure to furnish documents and information u/ss 92CA/92D. The key points are: The Transfer Pricing Officer (TPO)...

The ITAT, an Appellate Tribunal, considered the issue of penalty u/s 271G in a case involving Transfer Pricing (TP) adjustment. The assessee did not initially provide...

Penalty u/s 271G – Failure to maintain documents and accounts being audited - AO should have initiated penalty proceedings u/s 271AA/271BA – the penalty levied u/s 271G...

Levy of penalty - when the petitioner is not entitled to claim concessional rate of tax under section 3% of the TNGST Act, they are liable to pay penalty under section...

Penalty u/s 271G - failure to furnish documentation as required under the Rule 10D(1) and Section 92D(3) - the assessee had substantially complied with the directions of...

Penalty u/s. 271G - assessee did not provide any basis for comparing the transactions and it failed to provide any alternative method to benchmark the transactions which...

The National Company Law Appellate Tribunal, New Delhi, dealt with a case involving cartelization and bid-rigging in tenders for soil sample testing by the Department of...

Penalty u/s 271G - international transactions with its AE of import of rough diamonds which were sold to the third parties - once the TPO has accepted the bench marking...

Penalty imposed u/s 271G - failure to furnish the information/documents required u/s 92D(1) r/w rule 10D - when the TPO has accepted the benchmarking of the assessee,...

Validity of TP order stating that the orders are passed u/s 92CA (3) - Period of limitation - 60 days period from 31/3/2015 expires on 29 January 2015. But the ld TPO...

Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to...

Penalty u/s 271(1)(c) - combined order of penalty for additions made vide order u/s 143(3) r.w.s. u/s 153A and u/s 143(3) r.w.s. 147 - AO required to initiate two...

Levy of penalty u/s 129 (3) of CGST Act - the notice issued u/s 129(1)(a) was nothing more than an empty formality as no time/opportunity has been allowed pursuant to...

TPO is not justified in making adjustment of interest on account of alleged delay in recovering the outstanding toward receivables from the AE as per the provisions of...

Quick Updates: