2014 (7) TMI 333

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....ul Bharat, Judicial Member : This appeal by the Revenue is directed against the order of the Ld.Commissioner of Income Tax(Appeals)-XI, Ahmedabad ('CIT(A)' in short) dated 10/01/2011 pertaining to Assessment Year (AY) 2004-05. The Revenue has raised the following grounds of appeal:- 1. The Ld.Commissioner of Income tax (A) has erred in law and on facts in deleting the penalty of Rs. 30,10,00....

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....ce of bad debts amounting to Rs. 2,23,63,430/- and also issued notice u/s.274 r.w.s. 271(1)(c) of the Act. Subsequently, the AO passed a penalty order u/s.271(1)(c) of the Act dated 12/03/2010 imposing the penalty of Rs. 1,16,11,000/- as against maximum penalty leviable of Rs. 3,48,31,143/-. Against this order, assessee filed an appeal before the ld.CIT(A), who after considering the submissions of....

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....allowance of bad debts, the Hon'ble Tribunal in ITA No.3927/Ahd/2008 for AY 2004-05 order dated 30/07/2010 vide paragraph Nos.14 to 16 has decided this issue in favour of assessee and in respect of the disallowance of advertisement expenses also, the Hon'ble Tribunal in ITA No.3927/Ahd/2008(supra) vide paragraph No.9 has decided this issue in favour of assessee, thereby the addition made by the AO....