Claiming of deduction with full disclosure on a debatable issue while filing ROI, penalty not warranted

When assessee discloses all details necessary for claiming a deduction on a debatable issue while filing ROI, penalty is not warranted. Hero Honda Motors Ltd. Vs. DCIT (ITAT Delhi)- We have also noted that full particulars were disclosed by the assessee in the computation of income enclosed with the return of income. We also noted that the stand taken by the assessee was supported by an existing order of Ld CIT(A) rendered in the case of Maruti Udyog Ltd. (supra) and is also supported by a subsequent decision of the Tribunal rendered in the case of Honda Siel Power Products Ltd. (supra). Subs...