TMI Blog2018 (3) TMI 1603X X X X Extracts X X X X X X X X Extracts X X X X ..... in bad debt and doubtful debt though the provision is made as per RBI guidelines in the earlier was excess. Assessee has directly claimed the deduction in computation of income instead of providing same in the books for debting in the P & L account as per the provisions of the Act. Therefore, the assessee had neither concealed nor filed any inaccurate particulars of income. the assessee has duly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in law, the learned ld. Commissioner of Income Tax (Appeals) erred in confirming the same by disregarding several judgments and also overlooking the fact that similar penalty was deleted in A.Y. 2010-11. 3. We have heard both the counsel and perused the records. The brief facts leading to the levy of penalty was that the assessee has claimed deduction u/s. 36(1)(viia) through computation of inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per the provisions of the Act. Therefore, the assessee had neither concealed nor filed any inaccurate particulars of income. the assessee has duly disclosed the facts of income in its return of income filed before the department. Therefore, we are of the view that the issue in controversy is covered by the decision of Hon ble Supreme Court in the case of CIT vs. Reliance Petroproducts (P.) Ltd. [2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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