https://www.taxtmi.com/caselaws?id=792658 Penalty under section 271G could not stand once the related transfer pricing adjustment was deleted in quantum proceedings and that deletion was affirmed in further appeal. The Tribunal held that, with the primary adjustment removed, the penalty lost its independent foundation and could not survive on its own. The remaining jurisdictional and factual objections became academic after acceptance of the assessee's core contention, and the deletion of penalty was upheld in favour of the assessee. en-us Tue, 26 May 2026 00:00:00 +0530 Mon, 01 Jun 2026 08:25:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792658 Penalty under section 271G could not stand once the related transfer pricing adjustment was deleted in quantum proceedings and that deletion was affirmed in further appeal. The Tribunal held that, with the primary adjustment removed, the penalty lost its independent foundation and could not survive on its own. The remaining jurisdictional and factual objections became academic after acceptance of the assessee's core contention, and the deletion of penalty was upheld in favour of the assessee. Case-Laws Income Tax Tue, 26 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792658