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Assessee to ‘keep and maintain’ information and documents in respect of international transaction entered into with AE – ITAT Mumbai
Case Law Details
- Case Name
- ACIT Vs. Smith & New-phew Health-care (P) Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2003- 04
- Courts
- ITAT Mumbai
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ACIT Vs. Smith & New phew Healthcare (P) Ltd. (ITAT Mumbai)- As rightly held by the CIT(A), the requirement of law is that the Assessee has to “keep and maintain” information and documents in respect of international transaction entered into with AE. Rule 1OD(4) of the Rules envisages that the information and documents specified under sub-rules (1) and (2) should, as far as possible, be contemporaneous and should exist latest by the specified date referred to in clause (iv) of section 92F, which is due date for filing return of income u/s. 139(1) of the Act.
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