https://www.taxtmi.com/caselaws?id=771217 ITAT Pune ruled in favor of the assessee against penalty under section 271AA for failing to report transaction in Form 3CEB. The tribunal found the disputed amount was reimbursement through debit notes from previous years, not a new international transaction requiring reporting. The assessee maintained complete documentation and had reasonable cause for non-reporting as the auditor did not consider it an international transaction. Section 273B immunity applied, and the income was already offered in preceding years, making penalty unwarranted. en-us Fri, 16 May 2025 00:00:00 +0530 Thu, 22 May 2025 08:21:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771217 ITAT Pune ruled in favor of the assessee against penalty under section 271AA for failing to report transaction in Form 3CEB. The tribunal found the disputed amount was reimbursement through debit notes from previous years, not a new international transaction requiring reporting. The assessee maintained complete documentation and had reasonable cause for non-reporting as the auditor did not consider it an international transaction. Section 273B immunity applied, and the income was already offered in preceding years, making penalty unwarranted. Case-Laws Income Tax Fri, 16 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771217