2025 (5) TMI 1957

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....DER PER SANJAY GARG, JUDICIAL MEMBER: The present appeal has been preferred by the Assessee against the order passed by the Learned Commissioner of Income Tax (Appeal), Ahmedabad/ National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as "Ld.CIT(A)"] passed u/s.250 of the Income Tax Act, 1961 (here-in-after referred to as "the Act") relevant to the Assessment Year 2016-17. 2. Th....

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.... are that during the year under consideration, the assessee had made outward remittance for importing machineries from various foreign countries. On verification of the outward remittances made to various companies at China, "AO" observed that assessee has not furnished the necessary certificate i.e. Form No. 15CA in respect of all remittances made after the date 01.06.2015. 5. It is to be noted ....

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....h information were not notified at the relevant time. The relevant Rule 37BB of the Act was amended w.e.f 01.04.2016. Prior to 01.04.2016 as per the Rule 37BB of the Act (unamended), the information relating to foreign remittance was to be provided in Form 15CA/15CB. As per the said unamended Rule, the remitter was required to report foreign remittances in Form No.15CA only in respect of payment c....