https://www.taxtmi.com/caselaws?id=181864 The Appellate Tribunal allowed the appellant's appeal in a case involving a penalty under section 271AA of the Income Tax Act for failure to maintain prescribed information and documents under section 92D. The Tribunal found that although the appellant submitted the required Form 3CEB after assessment finalization, the penalty provision applies to failure to maintain documents, not delayed submission. As no addition was made in the assessment and no other penalty provision was invoked, the Tribunal concluded the penalty was unjustified and deleted it. The decision was issued on February 14, 2013, in Chennai. en-us Thu, 14 Feb 2013 00:00:00 +0530 Tue, 26 Apr 2016 15:59:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181864 The Appellate Tribunal allowed the appellant's appeal in a case involving a penalty under section 271AA of the Income Tax Act for failure to maintain prescribed information and documents under section 92D. The Tribunal found that although the appellant submitted the required Form 3CEB after assessment finalization, the penalty provision applies to failure to maintain documents, not delayed submission. As no addition was made in the assessment and no other penalty provision was invoked, the Tribunal concluded the penalty was unjustified and deleted it. The decision was issued on February 14, 2013, in Chennai. Case-Laws Income Tax Thu, 14 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181864