Alleged failure in non-reporting of the trade receivables as an international transaction u/s. 92D of the IT Act

Last updated: 15 September 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) Hyderabad has ruled in favour of C3i Support Services Pvt. Ltd. concerning a penalty imposed for allegedly failing to report trade receivables as an international transaction. The tribunal found no reason to sustain the penalty, noting that the relevant legislative amendment clarifying such transactions was made retrospective from 1 April 2002.

Court :
ITAT Hyderabad

Brief :
This assessee’s appeal for Asst. Year 2012-13 arises from the Commissioner of Income Tax (Appeals)-1, Hyderabad’s order dt.11.03.2019 passed in case No.0080/2017-18/DCIT.

Citation :
ITA No.1179/Hyd/2019

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