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No penalty if assessee raised a bona fide claim of ‘provision for bad debts’
Case Law Details
- Case Name
- Deputy Commissioner of Income-tax Vs VRB Investment (P.) Ltd (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- All ITAT, ITAT Kolkata
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IN THE ITAT KOLKATA BENCH ‘B’
Deputy Commissioner of Income-tax
versus
VRB Investment (P.) Ltd
IT APPEAL NO. 654 (KOL.) OF 2012
A.Y. 2005-06
Date of pronouncement – 25.09.2012
ORDER
Sanjay Arora, Accountant Member
This is an Appeal by the Revenue directed against the Order by the Commissioner of Income-tax (Appeals)-VI. Kolkata (‘CIT(A)’ for short) dated 12-12-2011, deleting the levy of penalty by the Assessing Officer (AO) u/s. 271(1)( c) of the Income-tax Act, 1961 (‘the Act’ hereinafter) for the assessment year (A.Y.) 2005-06 vide...
