https://www.taxtmi.com/caselaws?id=388887 Penalty for non-compliance with transfer pricing document-production requirements must be imposed by the authority empowered on the date of the default; where the omission occurred before the 01.10.2014 amendment, the Transfer Pricing Officer had no jurisdiction to levy penalty under section 271G. The text also notes that subsequent furnishing of the documents, absence of prejudice to the Revenue, and lack of mala fides make the breach merely technical, so penalty is not justified on merits. The resulting position is that the penalty could not be sustained on either jurisdictional or substantive grounds. en-us Mon, 18 Nov 2019 00:00:00 +0530 Tue, 26 Nov 2019 10:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388887 Penalty for non-compliance with transfer pricing document-production requirements must be imposed by the authority empowered on the date of the default; where the omission occurred before the 01.10.2014 amendment, the Transfer Pricing Officer had no jurisdiction to levy penalty under section 271G. The text also notes that subsequent furnishing of the documents, absence of prejudice to the Revenue, and lack of mala fides make the breach merely technical, so penalty is not justified on merits. The resulting position is that the penalty could not be sustained on either jurisdictional or substantive grounds. Case-Laws Income Tax Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388887