https://www.taxtmi.com/caselaws?id=759384 The ITAT allowed the appeals of two non-resident companies against the levy of penalty under Section 271G for non-furnishing of documents. The Tribunal found no evidence of inaccurate information, lack of bonafides, or unreasonable conduct by the assessees. Consequently, the penalties were deemed unwarranted and were deleted, with the Tribunal relying on relevant legal precedents and specific case facts. en-us Fri, 27 Sep 2024 00:00:00 +0530 Sat, 28 Sep 2024 13:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759384 The ITAT allowed the appeals of two non-resident companies against the levy of penalty under Section 271G for non-furnishing of documents. The Tribunal found no evidence of inaccurate information, lack of bonafides, or unreasonable conduct by the assessees. Consequently, the penalties were deemed unwarranted and were deleted, with the Tribunal relying on relevant legal precedents and specific case facts. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759384