https://www.taxtmi.com/caselaws?id=275073 The Tribunal allowed the appeal, quashing the penalty levied by the Assessing Officer and enhanced by the Commissioner of Income Tax (Appeals). The decision highlighted the importance of jurisdictional limits and the need for clear grounds for imposing penalties under section 271(1)(c). The Tribunal's analysis clarified the treatment of transfer pricing adjustments and the classification of expenses for penalty purposes. The penalty on transfer pricing adjustments and ROC fees was deleted, emphasizing that penalties cannot be imposed on debatable issues. en-us Wed, 31 May 2017 00:00:00 +0530 Mon, 17 Sep 2018 20:26:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275073 The Tribunal allowed the appeal, quashing the penalty levied by the Assessing Officer and enhanced by the Commissioner of Income Tax (Appeals). The decision highlighted the importance of jurisdictional limits and the need for clear grounds for imposing penalties under section 271(1)(c). The Tribunal's analysis clarified the treatment of transfer pricing adjustments and the classification of expenses for penalty purposes. The penalty on transfer pricing adjustments and ROC fees was deleted, emphasizing that penalties cannot be imposed on debatable issues. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275073