https://www.taxtmi.com/caselaws?id=336363 The ITAT allowed the appeal of the assessee, emphasizing compliance with record maintenance requirements under section 92D and Rule 10D. The ITAT noted no adjustments made by the TPO in international transactions, indicating no failure by the assessee. Precedents were cited where sufficient compliance with Rule 10D led to penalty dismissals. The decision favored the assessee, with no penalty recommendation by the TPO, and the appeal was allowed without costs for the Assessment Year 2008-09. Compliance with record maintenance under the Income Tax Act was underscored in the judgment. en-us Fri, 21 Oct 2016 00:00:00 +0530 Tue, 20 Dec 2016 10:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336363 The ITAT allowed the appeal of the assessee, emphasizing compliance with record maintenance requirements under section 92D and Rule 10D. The ITAT noted no adjustments made by the TPO in international transactions, indicating no failure by the assessee. Precedents were cited where sufficient compliance with Rule 10D led to penalty dismissals. The decision favored the assessee, with no penalty recommendation by the TPO, and the appeal was allowed without costs for the Assessment Year 2008-09. Compliance with record maintenance under the Income Tax Act was underscored in the judgment. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336363