https://www.taxtmi.com/caselaws?id=788799 Penalty for concealment or inaccurate particulars was sustained where the transfer pricing position lacked good faith and due diligence, GDR issue expenses were claimed contrary to settled law, miscellaneous or MODVAT expenses lacked supporting evidence, statutory contribution defaults had no reasonable explanation, and foreign exchange gain and TDS reconciliation income were omitted without a bona fide explanation. Penalty was deleted for foreign exchange derivative loss because it arose from bona fide hedging transactions and the related quantum addition was deleted. The penalty relating to disallowance for non-compliance with tax deduction requirements was restored for fresh consideration because the underlying quantum issue required de novo determination. en-us Tue, 24 Mar 2026 00:00:00 +0530 Fri, 27 Mar 2026 10:49:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788799 Penalty for concealment or inaccurate particulars was sustained where the transfer pricing position lacked good faith and due diligence, GDR issue expenses were claimed contrary to settled law, miscellaneous or MODVAT expenses lacked supporting evidence, statutory contribution defaults had no reasonable explanation, and foreign exchange gain and TDS reconciliation income were omitted without a bona fide explanation. Penalty was deleted for foreign exchange derivative loss because it arose from bona fide hedging transactions and the related quantum addition was deleted. The penalty relating to disallowance for non-compliance with tax deduction requirements was restored for fresh consideration because the underlying quantum issue required de novo determination. Case-Laws Income Tax Tue, 24 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788799