https://www.taxtmi.com/caselaws?id=399641 The Tribunal allowed the Revenue's appeals against the deletion of penalties under sections 271(1)(c) & 271AA for Assessment Years 2006-07 & 2008-09. Emphasizing the mandatory nature of maintaining TP documents under Section 92D, the Tribunal upheld the penalty under section 271AA due to non-compliance, despite the absence of international transactions. The CIT(A)'s decision to delete the penalty was overturned, affirming the necessity of complying with Section 92D for all transactions. en-us Tue, 13 Oct 2020 00:00:00 +0530 Tue, 04 Oct 2022 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399641 The Tribunal allowed the Revenue's appeals against the deletion of penalties under sections 271(1)(c) & 271AA for Assessment Years 2006-07 & 2008-09. Emphasizing the mandatory nature of maintaining TP documents under Section 92D, the Tribunal upheld the penalty under section 271AA due to non-compliance, despite the absence of international transactions. The CIT(A)'s decision to delete the penalty was overturned, affirming the necessity of complying with Section 92D for all transactions. Case-Laws Income Tax Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399641