Relief to Ericsson: Supreme Court upholds deletion of ₹64.43 Cr Penalty u/s 271G of Income Tax Act [Read Judgement]

The Supreme Court upheld the Delhi High Court's ruling, deleting the ₹64.43 crore penalty under Section 271G of the Income Tax Act

By Manu Sharma - On September 14, 2024 3:40 pm - 3 mins read

Supreme Court - Ericsson - Income Tax - Income Tax Act - Ericsson India penalty - Section 271G Income Tax Act - Ericsson India tax penalty case - taxscan

In a significant relief to Ericsson India Private Limited, the Supreme Court of India has upheld the deletion of the penalty imposed under Section 271G of the Income Tax Act, 1961. The penalty, which was earlier imposed by the tax authorities for failure to provide necessary documentation related to international transactions, was removed by the…

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