https://www.taxtmi.com/caselaws?id=64388 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c), ruling that the assessee acted in good faith and with due diligence regarding the treatment of provision for doubtful debts as an extraordinary item. The Tribunal found that the assessee had disclosed all relevant facts and that there was a genuine difference of opinion with the authorities. As a result, the Tribunal dismissed the Revenue's appeal, confirming that no penalty was warranted in this case. en-us Fri, 25 Sep 2009 00:00:00 +0530 Tue, 05 Sep 2023 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64388 The Tribunal upheld the CIT(A)'s decision to delete the penalty imposed under section 271(1)(c), ruling that the assessee acted in good faith and with due diligence regarding the treatment of provision for doubtful debts as an extraordinary item. The Tribunal found that the assessee had disclosed all relevant facts and that there was a genuine difference of opinion with the authorities. As a result, the Tribunal dismissed the Revenue's appeal, confirming that no penalty was warranted in this case. Case-Laws Income Tax Fri, 25 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64388