Penalty 271AA and 271G
Shubham Jain (45 Points)
04 April 2019and penalty under Section 271G is imposed when documentation under section 92D are not furnished on demand by AO.
Aren't these sections simultaneously.
If an assessee has not maintained the documentation(271AA) then obviously he would not be able to submit them(271G).
Therefore in my opinion if documentation u/s 92D not maintained both the penalty sections are triggered.
please assist?