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Ericsson India Pvt. Ltd. v. ACIT ( 2018) 305 CTR 584/ (2019) 411 ITR 333 (Delhi) (HC)

S. 271G : Penalty – Documents – International transaction – Transfer pricing – Failure to furnish information or documents-Change In Law — Default occurring prior to date of amendment conferring jurisdiction on Transfer Pricing Officer to impose penalty — Transfer Pricing Officer had no jurisdiction prior to Amendment ie on October 1, 2014 . [ S. 2(7A),92D(3) ]

Allowing the petition the Court held that since the “event of default” occurred in March, 2014, i. e., prior to the date of coming into force of the amendment (i.e., on October 1, 2014), the penalty order passed by the Transfer Pricing Officer was without jurisdiction.( AY.2011-12)

Note:  Securities and Exchange Board of India v. Classic Credit Ltd. (2017) (9) JT SC 558  is distinguished.