Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
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ITAT partially allowed the assessee's appeal, restricting penalty u/s 271B to Rs 10,000/-. The Tribunal acknowledged electronic notice service to the assessee's email ID, which remained unrebutted. Applying established legal principles against double penalty for identical default, the Tribunal referenced precedent to delete the balance penalty. The decision emphasizes procedural fairness by limiting punitive measures to a proportionate quantum, ensuring compliance without excessive financial burden on the taxpayer.
ITAT partially allowed the assessee's appeal, restricting penalty u/s 271B to Rs 10,000/-. The Tribunal acknowledged electronic notice service to the assessee's email ID, which remained unrebutted. Applying established legal principles against double penalty for identical default, the Tribunal referenced precedent to delete the balance penalty. The decision emphasizes procedural fairness by limiting punitive measures to a proportionate quantum, ensuring compliance without excessive financial burden on the taxpayer.
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