Penalty for failure to furnish transfer pricing information may be directed against constituent entities by the prescribed authority. Amendment creates a renumbered sub section adding a cross reference to section 270A and inserts a new sub section authorising the prescribed income tax authority to direct that a constituent entity of an international group which fails to furnish the information and documents required under transfer pricing documentation rules shall pay a specified monetary penalty, with effect from the stated operative date and applying to the relevant assessment year and subsequent years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for failure to furnish transfer pricing information may be directed against constituent entities by the prescribed authority.
Amendment creates a renumbered sub section adding a cross reference to section 270A and inserts a new sub section authorising the prescribed income tax authority to direct that a constituent entity of an international group which fails to furnish the information and documents required under transfer pricing documentation rules shall pay a specified monetary penalty, with effect from the stated operative date and applying to the relevant assessment year and subsequent years.
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