confirming the penalty levied by the AO u/s 271G of the I.T. Act.
2. Brief facts of the case are that during ... Therefore, penalty proceedings u/s 271G were initiated
by way of issue of show cause notice on 31.03.2013 and levied
penalty u/s 271G
appeals are common, which is
pertaining to levy of penalty u/s 271G, we refer to the facts from AY
2010-11.
13. During ... requirements laid
down under Rule 10D and, hence, penalty proceedings u/s 271G were
initiated by way of issue of notice on 25/03/2013
Hyderabad, upholding the penalty levied
by the AO u/s 271G of the IT Act, for the assessment year 2010-11.
2. Brief facts ... made.
3. In the meanwhile, the TPO initiated penalty proceedings u/s
271G of the Act by issuance of a notice dated 10/06/2013
order passed by the CIT (A)
deleting penalty imposed u/s 271G. Briefly, the facts are, the
assessee is engaged in the business of manufacture ... failure on its part to
furnish information will attract penalty u/s 271G of the Act. Since
there was no response from the assessee even
Sustaining penalty of Rs. 14,84,433/- under Section 271G of
the Income-tax Act, 1961.
2. By not independently evaluating the merits ... proceedings and
levied penalty of Rs.1,96,56,215/- under section 271G of the Act,
being 2% of the entire value of international transactions
deleting the
penalty levied by the Assessing Officer (AO) u/s. 271G of the
Income Tax Act [Act].
2. Brief fact of the case ... Therefore, he proposed to initiate the penalty
proceedings u/s. 271G of the Act.
3. The assessee objected to the penalty proceedings stating that
earlier years.
12. Erred in initiating penalty proceedings u/ s. 271G and
271(1)(c) of the Income Tax Act .
13. The assessee
The Citizen Co-Op. Society Ltd., ... vs Assessee on 19 October, 1997
IN THE INCOME
penalty proceedings under section 274 red
with section 270A , 271BA , 271AA and 271G of the Act based on Draft
Assessment Order without passing a final ... dated 18.02.2021. Penalty
proceeding u/s. 271A , 271BA and 271G were also initiated under
law.
4. However, the assessee had challenged the draft assessment
order
271CA ,] section 271D , section
271E , [ section 271F , [ section 271FA ,] [ section 271FB ,]
[ section 271G ,]] [ section 271H ,] clause (c) or clause (d) of sub-
section
