https://www.taxtmi.com/caselaws?id=325545 The Tribunal allowed the appeal, directing the Assessing Officer to delete the penalty imposed under Sec.271AA of the Income Tax Act for delay in submitting information related to international transactions. The Tribunal considered genuine reasons for the delay, lack of revision in Arms Length Price, and relevant legal provisions, ultimately ruling in favor of the assessee and emphasizing compliance with Transfer Pricing Officer's directions. The decision was based on the main ground raised by the assessee, resulting in the deletion of the penalty. en-us Fri, 05 Feb 2016 00:00:00 +0530 Tue, 22 Mar 2016 00:54:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325545 The Tribunal allowed the appeal, directing the Assessing Officer to delete the penalty imposed under Sec.271AA of the Income Tax Act for delay in submitting information related to international transactions. The Tribunal considered genuine reasons for the delay, lack of revision in Arms Length Price, and relevant legal provisions, ultimately ruling in favor of the assessee and emphasizing compliance with Transfer Pricing Officer's directions. The decision was based on the main ground raised by the assessee, resulting in the deletion of the penalty. Case-Laws Income Tax Fri, 05 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325545