ABC Ltd. entered into international transactions with Allen Inc. of USA during the year ended on 31st March, 2015 totalling ₹1,000 lakh, but failed to keep and maintain the information and documents in respect of such in
CS Executive · Tax Laws and Practice · PYQS · December 2015
ABC Ltd. entered into international transactions with Allen Inc. of USA during the year ended on 31st March, 2015 totalling ₹1,000 lakh, but failed to keep and maintain the information and documents in respect of such international transactions. The Assessing Officer can levy a penalty on ABC Ltd. for this default under section 271AA upto
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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