9911796707
TMI Blog2013 (7) TMI 203X X X X Extracts X X X X X X X X Extracts X X X X ..... disallowed on the basis thereof additions were made, that would not ipso facto lead to penalty proceedings - When both the authorities concurrently held that there was neither any occasion of furnishing inaccurate particulars nor there was any concealment on the part of the assessee, they both have rightly applied the law to the facts and have deleted the amount of penalty - Decided in favour of A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have learned advocate Ms. Mauna Bhatt for the Revenue and with her assistance perused the material on record. A short question that requires to be considered is whether the Tribunal, in the given set of facts and consideration, was justified in deleting the penalty while confirming the order of the Commissioner of Incometax [Appeals]. The Assessing Officer, on completing the assessment, made add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cer was not justified in levying the penalty, relying on the decision of various High Courts for substantiating his reasons. The Revenue chose to challenge such order of CIT [A] before the Tribunal, which confirmed the same. It can be noted that on account of disallowance of bad debt and the prior expenses, additions were made by the Assessing Officer and such order got confirmed by CIT [A] an ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
