https://www.taxtmi.com/caselaws?id=242672 The Tribunal upheld the CIT(A)'s decision regarding the penalty under section 271 G of the Income Tax Act, 1961 for the assessment year 2005-06. It was determined that no specific requisition under section 92D(3) was issued and not complied with, as required for the penalty to be levied. The Tribunal emphasized the importance of adhering to legal precedents and the necessity of a valid requisition to avoid imposing undue burdens on taxpayers. Consequently, the appeal was dismissed, affirming the CIT(A)'s findings. en-us Fri, 28 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:46:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242672 The Tribunal upheld the CIT(A)'s decision regarding the penalty under section 271 G of the Income Tax Act, 1961 for the assessment year 2005-06. It was determined that no specific requisition under section 92D(3) was issued and not complied with, as required for the penalty to be levied. The Tribunal emphasized the importance of adhering to legal precedents and the necessity of a valid requisition to avoid imposing undue burdens on taxpayers. Consequently, the appeal was dismissed, affirming the CIT(A)'s findings. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242672