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2014 (7) TMI 333 - ITAT AHMEDABADPenalty u/s 271(1)(c) of the Act – Amount paid to Nirma Education & Research Foundation – Disallowance of bad debts - Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that, The AO rightly made disallowance of advertisement expenses amounting to ₹ 1,00,00,000/- & disallowance of bad debts amounting to ₹ 2,23,63,430/- and also issued notice u/s.274 r.w.s. 271(1)(c) of the Act - assessee submitted that the addition made on the basis of the disallowances of bad debts and advertisement expenses have already been deleted in earlier assessment year - Since both the additions, in respect of bad debts and advertisement expenses have been deleted by the Coordinate Bench of the Tribunal – thus, penalty imposed thereon does not survive – thus, there was no infirmity in the order of the CIT(A) – Decided against Revenue.
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