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2012 (2) TMI 171 - DELHI HIGH COURTWaiver of penalty u/s 271(1)(c) – dis-allowance of bad debts – assessee funished records & confirmations during penalty proceedings – non-examination of documents by A.O./CIT(A) – Held that:- Tribunal went into the details, examined the records and the confirmations which were furnished by the assessee and has come to the conclusion that the levy of penalty u/s 271(1)(c) was not justified. In the present case, A.O. and the CIT(A) failed to consider/examine the veracity and correctness of the said papers without any reason. Revenue is unable to show what and where the tribunal has made a factual error or mistake – Decided against the Revenue.
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