Taxpayer Avoids Penalty for Not Maintaining Segment Profitability Details; Tribunal Upholds CIT(A)'s Decision u/s 271G.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty u/s 271G - requirement of maintenance of segment profitability between AEs and non-AEs transactions - non-maintenance of details in terms of section 92D(3) of IT Act r.w. Rule 10D of Income Tax Rules, 1962 - in the instant case there was reasonable cause for non-maintaining the details, which were required in terms of Rule 10D of the Rules - CIT(A) rightly deleted the penalty - AT....