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2018 (3) TMI 1603 - ITAT MUMBAIPenalty u/s. 271(1)(c) - assessee has claimed deduction u/s. 36(1)(viia) through computation of income, without corresponding debit being made to P & L account - Held that:- As decided in assessee's own assessee [2017 (3) TMI 1672 - ITAT MUMBAI] assessee has merely failed to provide the provision in bad debt and doubtful debt though the provision is made as per RBI guidelines in the earlier was excess. Assessee has directly claimed the deduction in computation of income instead of providing same in the books for debting in the P & L account as per the provisions of the Act. Therefore, the assessee had neither concealed nor filed any inaccurate particulars of income. the assessee has duly disclosed the facts of income in its return of income filed before the department - Decided in favour of assessee.
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