https://www.taxtmi.com/caselaws?id=279351 Penalty under section 271G was not sustainable where the assessee, engaged in diamond trading, substantially complied with transfer-pricing documentation requirements but could not furnish full AE and non-AE segmental details because of the practical difficulty of linking lot-wise rough and polished diamonds and preparing exact segment-wise profitability. The Tribunal accepted that substantial information had been filed, that the remaining non-compliance arose from the peculiar nature of the business, and that this constituted reasonable cause under section 273B. On that basis, the penalty was deleted and the Revenue's appeals failed. en-us Thu, 01 Nov 2018 00:00:00 +0530 Mon, 08 Jun 2026 17:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279351 Penalty under section 271G was not sustainable where the assessee, engaged in diamond trading, substantially complied with transfer-pricing documentation requirements but could not furnish full AE and non-AE segmental details because of the practical difficulty of linking lot-wise rough and polished diamonds and preparing exact segment-wise profitability. The Tribunal accepted that substantial information had been filed, that the remaining non-compliance arose from the peculiar nature of the business, and that this constituted reasonable cause under section 273B. On that basis, the penalty was deleted and the Revenue's appeals failed. Case-Laws Income Tax Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279351