On finding that transfer pricing adjustment made in the Arm's Length Price to be erroneous, the Mumbai ITAT deleted the penalty u/s 271G of Income Tax Act, 1961 for non-furnishing of requisite information u/s 92D.The Bench comprising Amit Shukla (Judicial Member) and S. Rifaur Rahman (Accountant Member) observed that, “levy of penalty under section 271G of the Act is neither fair nor...