Dismissing the appeal of the revenue the Court held that , a specific finding should be recorded on date by which assessee was required to furnish documents and whether said documents were furnished with in specified date .Deletion of penalty by the Tribunal is held to be justified. Followed CIT v. Bumi Hiway (I) (P) Ltd ( 2014) 51 taxmann.com 572 ( Delhi) (HC)
CIT v. Gillette India Ltd ( 2018) 99 Taxman .com 230 / 259 Taxman 353 ( Raj) (HC) Editorial: SLP of revenue is dismissed, CIT v. Gillette India Ltd ( 2018) 259 Taxman 352 (SC)
S. 271G : Penalty – Documents – International transaction – Transfer pricing – A specific finding should be recorded on date by which assessee was required to furnish documents and whether said documents were furnished with in specified date – Deletion of penalty is held to be justified [ S.274 ]