https://www.taxtmi.com/caselaws?id=334182 The Tribunal upheld the deletion of penalties under section 271(1)(c) for the assessment year 2006-07. The penalties related to transfer pricing adjustments on distribution of plates and technical services, as well as the disallowance of depreciation on an intangible asset. The Tribunal found no legal basis for the penalties, leading to the dismissal of the revenue's appeal and affirming the deletion of penalties by the CIT(A). en-us Fri, 26 Aug 2016 00:00:00 +0530 Sat, 05 Nov 2016 07:20:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334182 The Tribunal upheld the deletion of penalties under section 271(1)(c) for the assessment year 2006-07. The penalties related to transfer pricing adjustments on distribution of plates and technical services, as well as the disallowance of depreciation on an intangible asset. The Tribunal found no legal basis for the penalties, leading to the dismissal of the revenue's appeal and affirming the deletion of penalties by the CIT(A). Case-Laws Income Tax Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334182