https://www.taxtmi.com/article/detailed?id=2037 An assessing officer's discretion to grant stay of recovery must be exercised with brief, objective reasons; confirmation of a transfer pricing addition does not by itself justify a penalty for concealment or inaccurate particulars, which requires independent establishment. The High Court granted a conditional stay of penalty recovery on partial deposit pending appeal, highlighting that withdrawal of claims by revised return and adjustments to exemption claims can attract transfer pricing adjustments and penalties if not properly substantiated. en-us Fri, 22 Feb 2013 15:10:57 +0530 Fri, 22 Feb 2013 15:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2037 An assessing officer's discretion to grant stay of recovery must be exercised with brief, objective reasons; confirmation of a transfer pricing addition does not by itself justify a penalty for concealment or inaccurate particulars, which requires independent establishment. The High Court granted a conditional stay of penalty recovery on partial deposit pending appeal, highlighting that withdrawal of claims by revised return and adjustments to exemption claims can attract transfer pricing adjustments and penalties if not properly substantiated. Articles Income Tax Fri, 22 Feb 2013 15:10:57 +0530 https://www.taxtmi.com/article/detailed?id=2037