https://www.taxtmi.com/caselaws?id=218163 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 2004-05. The Tribunal reasoned that no penalty was justified for the additions made under normal provisions as tax was paid on income assessed under Section 115JB. Additionally, for the provision for doubtful debts under Section 115JB, the Tribunal found no default by the assessee, considering the issue debatable at the time of filing the return. en-us Fri, 25 May 2012 00:00:00 +0530 Wed, 07 Sep 2016 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218163 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the penalty under section 271(1)(c) of the Income-tax Act, 1961 for the assessment year 2004-05. The Tribunal reasoned that no penalty was justified for the additions made under normal provisions as tax was paid on income assessed under Section 115JB. Additionally, for the provision for doubtful debts under Section 115JB, the Tribunal found no default by the assessee, considering the issue debatable at the time of filing the return. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218163