https://www.taxtmi.com/caselaws?id=209366 The High Court upheld the decision of the Tribunal and the CIT(A) regarding the validity of writing off bad debts and the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961. It was held that the assessee's claim of bad debts written off was justified, and the penalty was rightly set aside as there was no intention to evade tax. The Court emphasized the significance of bonafide intentions in claiming deductions and ruled that no substantial question of law arose in the case. en-us Mon, 01 Nov 2010 00:00:00 +0530 Sat, 20 Jul 2013 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209366 The High Court upheld the decision of the Tribunal and the CIT(A) regarding the validity of writing off bad debts and the deletion of the penalty under section 271(1)(c) of the Income Tax Act, 1961. It was held that the assessee's claim of bad debts written off was justified, and the penalty was rightly set aside as there was no intention to evade tax. The Court emphasized the significance of bonafide intentions in claiming deductions and ruled that no substantial question of law arose in the case. Case-Laws Income Tax Mon, 01 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209366