that the local tax
base of an assessee is fair.
22. Section 92D provides that every person who has entered into an
international transaction ... furnish
by a notice issued under sub-section (3) of section 92D , the
Assessing Officer may proceed to determine the arm's length
price
Sony Ericsson Mobile Communications ... vs Commissioner Of Income Tax ??? Iii on 16 March, 2015
Author
documents of its international transactions in the form
prescribed under Section 92D (1) and the Rules made in that regard or, the
information or data ... specified time the information sought pursuant to a notice issued under
Section 92D (3) . The first proviso to Section 92 (3) mandates that before
international
transactions in the form prescribed under sub-section (1) of section 92D
and the Rules made in that behalf or, the information or data ... sought pursuant to a notice issued under sub-section (3) of section 92D .
Importantly, the first proviso to sub-section (3) of section 92 clearly
ground that assessee has failed
to furnish the documents maintained u/s 92D(1) in response to the
notice issued by the TPO within ... documentation under Rule 10D on
12.7.2011 to be furnished u/s 92D (1) by 12.08.2011. However as
noted by the ld. TPO the assessee neither
meaning of an international transaction for the purposes of Section 92 , 92C ,
92D and 92E . The said provision reads as under:-
"92B. Meaning ... transaction. - (1) For the
purposes of this section and sections 92 , 92C , 92D and 92E ,
"international transaction" means a transaction between
case of the revenue that the relevant documents as
mandated under Section 92D read with Rule 10D were not furnished to the
Transfer Pricing Officer ... respondent assessee had failed to furnish information and
documents under Section 92D , the Assessing Officer "shall" impose penalty
under Section 271G
under Clause (g) and (h) of
Rule 10D(1) r.w.s. 92D(3) of the Act, penalty proceedings u/s.271G ... include information and documents referred to in sub-s. (3) of s. 92D
which are prescribed in various clauses of r. 10D(1). Documents
fresh search
undertaken at the time of assessment proceedings.
14. Under section 92D of the Act, it is provided that every person who has
entered ... prescribes the information and documents to be kept and
maintained under section 92D of the Act. It is not any ones' case that
vide questionnaire issued under section 92CE(3)
read with section 92D(3) dated 19.11.2015 which was replied by
the assessee by furnishing the details ... furnish the documents called for under section 92CA read with
section 92D(3) of the Act which was followed by another show
cause notice dated
