https://www.taxtmi.com/caselaws?id=764392 ITAT Pune allowed assessee's appeal against penalty u/s 271G imposed by TPO. The assessee argued TPO failed to specify required information in statutory notice u/s 92D(3) and there was reasonable cause for delay in document submission. ITAT relied on Bombay HC decision in Undercarriage and Tractor Parts case which quashed assessment order u/s 143(3) r.w.s. 144C(13). CIT(A) failed to consider this HC precedent while deciding penalty appeal. Revenue could not produce any contrary higher forum decision. ITAT held penalty not exigible and rejected Revenue's appeal as devoid of merit. en-us Tue, 07 Jan 2025 00:00:00 +0530 Wed, 08 Jan 2025 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764392 ITAT Pune allowed assessee's appeal against penalty u/s 271G imposed by TPO. The assessee argued TPO failed to specify required information in statutory notice u/s 92D(3) and there was reasonable cause for delay in document submission. ITAT relied on Bombay HC decision in Undercarriage and Tractor Parts case which quashed assessment order u/s 143(3) r.w.s. 144C(13). CIT(A) failed to consider this HC precedent while deciding penalty appeal. Revenue could not produce any contrary higher forum decision. ITAT held penalty not exigible and rejected Revenue's appeal as devoid of merit. Case-Laws Income Tax Tue, 07 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764392