2011 (10) TMI 636

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..... d sustained by the CIT(A) deserves to be deleted. We, accordingly, direct the AO to delete the penalty imposed on the assessee. - I.T.A No.3989/ Mum/2010 - - - Dated:- 19-10-2011 - Shri D.Manmohan, Vice President And Pramod Kumar, Accountant Member For the Appellant : Narayan Atal For the Respondent : P.C.Maurya ORDER Per Pramod Kumar: 1. This appeal filed by the as .....

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..... assessee has claimed professional tax of ₹ 2,500 and interest on overdraft of ₹ 3,22,650 out of interest income. The Assessing officer asked the assessee to show cause as to why the above amount should not be disallowed, to which, the assessee agreed for the disallowance. Accordingly, the AO disallowed the above additions totaling to ₹ 4,82,924. The Assessing Officer also initia .....

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..... ng Co.Ltd. ( ITA No..5007/Pune/2008). It is a fact that the assessee has agreed for all the additions to be made before the Assessing officer. That does not, however, mean that the assessee has furnished inaccurate particulars of income. In the case of CIT vs. Reliance Petroproducts (P) ltd., (322 ITR 158, Their Lordships noted that in this case, there is no finding that any details supplied by t .....

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