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2019 (6) TMI 867 - AT - Income TaxPenalty u/s 271(1)(c) - reduction of eligible claim of bad and doubtful debts u/s 36(1)(viia) - HELD THAT:- The action of the assessee being bonafide and the issue being debatable, the larger claim of deduction per se cannot be bracketed in the league of ‘concealment of particulars of income’ or ‘furnishing inaccurate particulars of income’. It is not in dispute that all the relevant facts were on record to enable the AO to formulate the opinion on the issue. See VALIMKBHAI H. PATEL. [2005 (7) TMI 35 - GUJARAT HIGH COURT]. This being so, there was no justification to invoke the provision of Section 271(1)(c) in the facts of the case. CIT(A) in our view has rightly concluded the issue in favour of the assessee and against the Revenue notwithstanding the fact that he has not assigned any reason and passed a perfunctory order while doing so. We must say at this juncture that the CIT(A) ought to have given some elementary reasons however brief it may be while determining the issue to enable higher appellate forum to understand the perspective. The ultimate conclusion of the CIT(A) however cannot be faulted in the instant case. - Decided against revenue.
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