turn arises from the order passed by the A.O under Sec. 271G of
the Income Tax Act, 1961 (for short „Act‟), dated ... fair manner as envisaged under
Sec.92C , therefore, it was rightly visited with penalty under Sec. 271G
of the Act. It was submitted
confirming penalty of
Rs.285001OO/-imposed by the assessing officer under Section 271G of
the Income Tax Act, 1961 is bad in law.
2. That ... upholding
penalty imposed by the assessing officer under Section 271G of the
Income Tax Act, 1961.
3. On the facts and circumstances of the case
same as default. The
notice is not under section 92D and hence penalty under section 271G
cannot be imposed. Penalty under section 271G cannot ... Length Price and corresponding to these two sections, penalty under
section 271G does not apply. In fact section 92C(3)(d) which Transfer
Pricing Officer
transactions, the Ld. TPO initiated penalty
proceeding under section 271G of the Income Tax Act, 1961 (in
short 'the Act') on the ground ... length price of various international transactions and hence levied
penalty under section 271G
length price of various
international transactions and hence levied penalty under section
271G ... section of Rs. 24,7l r 2S,75Q/- at the rate of 2% of
international transactions of Rs, 1235,64.37,8 W- under section 271G
assessee and therefore the Ld. AO has rightly invoked section 271G and has levied
the penalty. The Ld. DR relied on the order ... upon.On a careful reading of
the penalty order passed under section 271G of the Act, it is evident, the TPO has
proceeded to impose
length price of various
international transactions and hence levied penalty under section 271G ... length price as it is and initiated the penalty proceedings under section 271G of
I.T.Act, 1961. The TPO could have tried to work
levying the penalty of
Rs. 4,23,634/- under section 271G of the Income Tax Act, 1961
[hereinafter referred ... satisfied all the conditions
prescribed under section 92D of the Act. Hence, the levy of
penalty under section 271G of the Act is without
Mumbai, deleting the penalty imposed of `
55,30,187, under section 271G of the Income Tax Act, 1961 (for short ... However, alleging non-maintenance of specified documents,
he initiated proceedings under section 271G of the Act and ultimately
passed an order on 24th July
document u/s 92D before
the Transfer Pricing Officer (TPO). Therefore, the AO imposed a penalty
of Rs.48,70,467/- u/s 271G ... issued notice u/s
92D(3) to the assessee. A condition precedent to levy penalty u/s 271G
is failure to comply with specific requisition
