https://www.taxtmi.com/caselaws?id=214856 The Tribunal overturned the penalty imposed by the revenue on the unrealizable fixed deposit written off by the assessee, amounting to Rs.3,25,186. The Tribunal held that the issue of whether such losses were capital or revenue in nature was debatable and that the assessee did not engage in concealment or furnish inaccurate particulars. Therefore, the penalty was deemed unjustified and was subsequently deleted. The Tribunal dismissed the appeal of the assessee, with the order pronounced on 01-06-2012. en-us Fri, 01 Jun 2012 00:00:00 +0530 Wed, 18 Jul 2012 08:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214856 The Tribunal overturned the penalty imposed by the revenue on the unrealizable fixed deposit written off by the assessee, amounting to Rs.3,25,186. The Tribunal held that the issue of whether such losses were capital or revenue in nature was debatable and that the assessee did not engage in concealment or furnish inaccurate particulars. Therefore, the penalty was deemed unjustified and was subsequently deleted. The Tribunal dismissed the appeal of the assessee, with the order pronounced on 01-06-2012. Case-Laws Income Tax Fri, 01 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214856