https://www.taxtmi.com/caselaws?id=469615 Penalty under section 271G was held unsustainable where the assessee had substantially complied with transfer pricing documentation requirements and the shortfall in furnishing separate segmental accounts and profitability details was due to practical difficulty. The Tribunal accepted that the assessee had supplied particulars to the extent possible, and that the nature of the diamond trade and the business profile showed absolute compliance with the specific requisitions was not practicable. On that basis, reasonable cause under section 273B protected the assessee, and deletion of the penalty was upheld. en-us Mon, 16 Dec 2019 00:00:00 +0530 Wed, 24 Jun 2026 17:15:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469615 Penalty under section 271G was held unsustainable where the assessee had substantially complied with transfer pricing documentation requirements and the shortfall in furnishing separate segmental accounts and profitability details was due to practical difficulty. The Tribunal accepted that the assessee had supplied particulars to the extent possible, and that the nature of the diamond trade and the business profile showed absolute compliance with the specific requisitions was not practicable. On that basis, reasonable cause under section 273B protected the assessee, and deletion of the penalty was upheld. Case-Laws Income Tax Mon, 16 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469615