There are various cases where a domain name may not be transferable to another Registrar. This could happen in the following circumstances:
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Domain name is less than 60 days old: If the domain name you are trying to Transfer was registered less than 60 days ago, the request will get rejected by the Registry itself.
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Domain name has been Transferred less than 60 days ago: A domain name can not be transferred to another Registrar within 60 days of a previous Transfer.
Example:
A domain name can not be transferred from Registrar B to Registrar C, if it has been transferred to Registrar B from Registrar A within the last 60 days.
Exception
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Theft Protection / Lock / Suspension has been applied on your domain name: If Theft Protection / Lock / Suspension has been applied on your domain name at the Current Registrar, then a Transfer for that domain name to another Registrar will not be allowed. You will first have to disable Theft Protection / Lock / Suspension for the domain name and then proceed with a Transfer.
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Privacy Protection has been enabled on your domain name: If you have enabled Privacy Protection for your domain name, then you need to disable it, before trying to transfer it.
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Domain name is in the Redemption Grace Period or in the Pending Delete status: If the domain name is in either of these statuses, it can not be transferred.
Additional information: -