Penalty for failure to furnish information under transfer pricing rules may be imposed on international transaction value. Where a person who has entered into an international transaction fails to furnish information or documents required by the transfer pricing documentation provision, the Assessing Officer or the Commissioner (Appeals) may direct that such person pay, by way of penalty, a sum calculated as a percentage of the value of the international transaction for each such failure.
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 information under transfer pricing rules may be imposed on international transaction value.
Where a person who has entered into an international transaction fails to furnish information or documents required by the transfer pricing documentation provision, the Assessing Officer or the Commissioner (Appeals) may direct that such person pay, by way of penalty, a sum calculated as a percentage of the value of the international transaction for each such failure.
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