The Tribunal directed the inclusion of certain comparables and exclusion of others. The contention of the assessee that if the directions of the Tribunal for inclusion or exclusion of comparables was carried out by the Assessing Officer there would remain no basis for making any transfer pricing adjustments had not been controverted by the Department. In such a situation, no adjustment on the transfer pricing issue would subsist and there would be no question of penalty under section\u00a0271(1)(c)\u00a0on such addition. Therefore the penalty under section\u00a0271(1)(c)\u00a0was to be deleted.(AY.2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271(1)(c): Penalty-Concealment\u2014If directions of Tribunal given effect by Assessing Officer basis Transfer Pricing Adjustments would not survive-Levy of penalty is not valid. [S. 92C, 92CA (3), 271C]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-42355","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-b19","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=42355"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42355\/revisions"}],"predecessor-version":[{"id":42356,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42355\/revisions\/42356"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=42355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=42355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=42355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}