The "TransmitData() to X.X.X.X:27000 failed" portion of the error message is thrown by the Impala RPC code. the "Connection timed out (error 110)" is a TCP error. TCP error code 110 corresponds to the error "Connection timed out". So, as the error message states, there was a TCP connection timeout between two Impala processes.
It's hard to debug without more information. What query was being run? Can you post the full log files? What were the two processes that were trying to communicate with each other?
In all likelihood, this looks like a network issue, does this happen consistently?