https://www.taxtmi.com/caselaws?id=471014 Penalty for furnishing inaccurate particulars is not leviable merely because travelling expenses are disallowed where an identical penalty was deleted in an earlier assessment year and no factual or legal distinction exists. Penalty is also not attracted by a transfer-pricing adjustment on settlement advances where the transactions, amounts and reimbursement basis were disclosed in Form 3CEB, and no particulars were found false or inaccurate. Failure to benchmark settlement advances with interest, without inaccurate disclosure or misrepresentation, does not itself justify penalty. The penalties relating to both issues remain deleted. en-us Mon, 17 Oct 2016 00:00:00 +0530 Tue, 18 Aug 2026 14:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471014 Penalty for furnishing inaccurate particulars is not leviable merely because travelling expenses are disallowed where an identical penalty was deleted in an earlier assessment year and no factual or legal distinction exists. Penalty is also not attracted by a transfer-pricing adjustment on settlement advances where the transactions, amounts and reimbursement basis were disclosed in Form 3CEB, and no particulars were found false or inaccurate. Failure to benchmark settlement advances with interest, without inaccurate disclosure or misrepresentation, does not itself justify penalty. The penalties relating to both issues remain deleted. Case-Laws Income Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471014