Penalty u/s. 271AA not leviable without specifying documents not furnished by assessee

DCIT Vs Priya Blue Industries Pvt. Ltd. (ITAT Ahmedabad) ITAT Ahmedabad held that penalty u/s.271AA of the Income Tax Act cannot be levied without specifying the required documents failed to be maintained/furnished by the assessee. Thus, appeal of the revenue dismissed. Facts- he Respondent/assessee is a Private Limited Company engaged in the business of Ship Breaking, Recycling and Sale of Scrapes. Since there were Transfer Pricing issues in respect of International Transactions or Specified Domestic Transaction or both, the case was referred to Transfer Pricing Officer [TPO] u/s.92CA(1) of t...