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2012 (7) TMI 941 - ITAT DELHILevy of penalty u/s. 271(1)(c) - provision for bad and doubtful debts adjustment under MAT computation - Held that:- As decided in assessee own case for previous AY no adjustment was required to be made for provision for bad and doubtful debts under clause (c) of the Explanation to Section 115JB. In these circumstances, we feel the Tribunal was justified in accepting and holding that the case is covered by Explanation 1 Clause (B) to Section 271(1) and had correctly dismissed the appeal of the Revenue deleting the penalty - Decided against revenue
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