2017 (6) TMI 1410

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.... : Shri N. Viswanathan, CA ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER: This appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-6, Chennai dated 19.01.2017 deleting the penalty levied by the Assessing Officer U/s. 271AA of the Income Tax Act, 1961 (in short 'the Act'). 2. Ms. Jamuna, the Ld. Departmental Representative submitted that the assessee has ....

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....nalty levied U/s. 271AA of the Act. 4. We have considered the rival submissions on either side and perused the material available on record. It is not in dispute that the TPO has not made any adjustment in the transfer pricing proceedings. This Tribunal in the assessee's own case for the assessment year 2006-07 found that since no adjustment was made with regard to international transactions, the....