I think that here is your problem:
You send some (ping) packets from your PC 172.29.37.100 to 10.4.48.1. Because the destination is not in your LAN the packets start to go to your default GW (172.29.37.233). There they are routed to your new GW 10.4.48.1.
The new GW 10.4.48.1 receives the ping packet and replies to IP 172.29.37.100. However it does not have any route to that destination other than default route (which is not your GW!). So reply packets never reach your LAN.
The solution is to add a route on the NEW GW: net 172.29.37.0/24 gw 10.4.48.10
(Only) If this is not possible you could do NAT so the traffic will go like:
You send some (ping) packets from your PC 172.29.37.100 to 10.4.48.1. Because the destination is not in your LAN the packets start to go to your default GW (172.29.37.233). There they are routed to your new GW 10.4.48.1 and source address is changed to 10.4.48.10.
The new GW 10.4.48.1 receives the ping packet and replies to IP 10.4.48.10 (with which it is directly connected to and knows the route). You GW receives the replies and knows that the initial source of the connection is machine 172.29.37.100 and forwards the packets there.