https://www.taxtmi.com/highlights?id=62125 Penalty levied u/s 271G - Assessee has failed to maintain the information as per Rule 10D (1) (d), (g), (h) and (m) of Income Tax Rules - ‘reaso-nable cause’ under section 273B - assessee has a belief that such information is not required as well as not available, therefore , the assessee has ‘reasonable cause’ under section 273B of the Act for not maintaining the same. For failure as envisaged subject to penalty u/s 271G, if such failure is because of reasonable cause, no penalty can be levied. - AT en-us Thu, 24 Feb 2022 11:28:44 +0530 Thu, 24 Feb 2022 11:28:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62125 Penalty levied u/s 271G - Assessee has failed to maintain the information as per Rule 10D (1) (d), (g), (h) and (m) of Income Tax Rules - ‘reaso-nable cause’ under section 273B - assessee has a belief that such information is not required as well as not available, therefore , the assessee has ‘reasonable cause’ under section 273B of the Act for not maintaining the same. For failure as envisaged subject to penalty u/s 271G, if such failure is because of reasonable cause, no penalty can be levied. - AT Highlights Income Tax Thu, 24 Feb 2022 11:28:44 +0530 https://www.taxtmi.com/highlights?id=62125