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2018 (12) TMI 114 - AT - Income TaxWrite off of debts under the Debt Waiver Scheme - claim of exemption of the same income in the earlier year or made double claim in the earlier years with regard to bad debts or NPAH - eld that:- The assessee should not claim double deduction under the waiver scheme as well as the exemption of the income or bad debt for the same amount in the earlier years. Therefore, this issue needs detailed verification at the end of the AO, hence, we remit the matter back to the file of the AO to allow additional relief of 25% OTS after verifying whether the assessee has claimed the exemption of the same income in the earlier year or made double claim in the earlier years with regard to bad debts or NPA and decide the issue afresh on merits. The AO should give reasonable opportunity to the assessee before deciding the issue and the assessee is directed to furnish the details. Accordingly, the appeal of the revenue on this ground is remitted back to the file of the AO for fresh consideration and this ground is allowed for statistical purpose. Waiver of penal interest and other interests as expenditure u/s 31(1)as per schemes announced by the APCOB and KBCCB - Held that:- The claim of the assessee was in all cases the waiver of interest on over due and sticky loans and the assessee submitted that such interest was never claimed as expenditure in the earlier years. Though there was change in the nomenclature the waiver and written off was interest and stated to be admitted as income in the earlier years. The assessee submitted that there was no double claim made by the assessee. The department did not bring any evidence to show that the assessee has made double claims of the deduction. Since facts of the case are identical to the assessee’s own case in appeal of this tribunal respectfully following the view taken by the coordinate bench of this tribunal we uphold the order of the Ld.CIT(A) and dismiss the appeals of the revenue on this grounds for the A.Ys 2011-12 to 2014-15.
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