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2016 (6) TMI 29 - ITAT DELHIPenalty u/s 271(1)(c) - provision for bad and doubtful debts claimed - Held that:- The impugned order passed by the CIT (A) confirming the penalty order is not sustainable in the eyes of law as the assessee has claimed provision for bad and doubtful debts due to inadvertent and bonafide mistake and voluntarily revised the income by offering the said amount of ₹ 4,59,714/- for taxation. Consequently, the impugned order passed by CIT (A) is hereby set aside. - Decided in favour of assessee
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