2012 (3) TMI 521

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....C. Joseph, JCIT ORDER PER GEORGE MATHAN, JUDICIAL MEMBER : ITA No. 1180/Mds/11 is an appeal filed by the Revenue against the order of Commissioner of Income Tax(A)-VI, Chennai in appeal No. 352/10-11 dated 29.03.11 for Assessment Year 2006-07 deleting penalty levied u/s 271AA of the Act. ITA No. 1181/Mds/11 is an appeal filed by the Revenue against the order of Commissioner of Income Tax(....

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....) deleted the penalty which is not on a right footing and the order of the ld. CIT(A) was liable to be reversed. 4. In regard to Appeal in ITA No. 1181/Mds/2011, it was submitted by the ld. DR that the ld. CIT(A) had deleted the penalty on similar grounds as penalty u/s 271AA of the Act as also by accepting the cause explained by the assessee that the secretary of the company had left the compa....

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....y the Assessing Officer and if the Revenue alleges that there has been failure of the assessee with regard to production of any of the record, it was required to point out which record it had failed to produce and whether such record was one which was prescribed u/s 92D(1) of the Act to be maintained by an assessee in respect of international transactions entered into by it. The co-ordinate bench ....

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.... In fact, the order of the TPO shows that the details were called for and the assessee had submitted the details. Further perusal of the order of the TPO shows that the assessee had been asked to provide the details in 30 days. However, the details had been produced with delay of six months. A perusal of the order of the ld. CIT(A) clearly shows that the reason for delay in producing the documents....