https://www.taxtmi.com/caselaws?id=793100 Penalty under section 271G for alleged non-furnishing of transfer pricing documentation was held unsustainable where the assessee had produced study material and available segmental details, and the TPO accepted the arm's length price without adjustment. The Tribunal accepted that exact segment-wise cost allocation in the diamond trade involved practical difficulty and that any shortfall was covered by reasonable cause under section 273B. It further held that section 271G cannot be invoked mechanically merely because more documentation is desired. Penalty deletion by the CIT(A) was upheld. en-us Wed, 13 May 2026 00:00:00 +0530 Tue, 09 Jun 2026 07:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793100 Penalty under section 271G for alleged non-furnishing of transfer pricing documentation was held unsustainable where the assessee had produced study material and available segmental details, and the TPO accepted the arm's length price without adjustment. The Tribunal accepted that exact segment-wise cost allocation in the diamond trade involved practical difficulty and that any shortfall was covered by reasonable cause under section 273B. It further held that section 271G cannot be invoked mechanically merely because more documentation is desired. Penalty deletion by the CIT(A) was upheld. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793100