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2021 (5) TMI 862 - AT - Income Tax
Penalty u/s 271(1)(C) - transfer pricing adjustment/arms length price adjustment of International Transaction relation to quasi-capital - HELD THAT:- Since the quantum additions have been deleted, by Tribunal for A.Y. 2009-10 and 2010-11 [2020 (4) TMI 522 - ITAT AHMEDABAD] therefore, penalty would not survive, hence we delete the penalty for A.Y. 2009-10 and 2010-11.- Decided in favour of assessee.