https://www.taxtmi.com/caselaws?id=242730 The Tribunal held that the assessee acted in good faith and with due diligence in selecting the Transactional Net Margin Method (TNMM) for transfer pricing due to the unavailability of comparable data for the Comparable Uncontrolled Price (CUP) method. As a result, the penalty for the assessment year 2002-03 was deleted, and the CIT(A)'s decision to delete the penalty for the assessment year 2004-05 was upheld. The assessee's appeal was allowed, while the revenue's appeal was dismissed. en-us Wed, 17 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242730 The Tribunal held that the assessee acted in good faith and with due diligence in selecting the Transactional Net Margin Method (TNMM) for transfer pricing due to the unavailability of comparable data for the Comparable Uncontrolled Price (CUP) method. As a result, the penalty for the assessment year 2002-03 was deleted, and the CIT(A)'s decision to delete the penalty for the assessment year 2004-05 was upheld. The assessee's appeal was allowed, while the revenue's appeal was dismissed. Case-Laws Income Tax Wed, 17 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242730