TMI Blog2018 (8) TMI 1893X X X X Extracts X X X X X X X X Extracts X X X X ..... uly disclosed in the return and statement of accounts of assessee. Under such circumstances we do not find any infirmity in the orders passed by Ld. CIT (A) in deleting the penalty levied. Accordingly we dismiss the grounds raised by revenue. - ITA No. 6596/Del/2016 : Asstt. Year : 2010-11 - - - Dated:- 14-8-2018 - Sh. R.S. Syal, Vice President And Smt. Beena A. Pillai, Judicial Member ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 51,56,93,06,854/-. The case was selected for scrutiny and notice under section 143(2) was issued to assessee. Ld.AO under section 143(3) passed the assessment order by computing disallowance under section 14A read with Rule 8D at ₹ 1,71,24,78,792/-. He worked out the disallowance as per rule 8D(i) at Nil, 8D(ii) at ₹ 154,97,80,997/-and 8D(iii) at ₹ 16,26,97,795/-. 3. Ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ished by assessee being satisfactory and that the bona fides could not be doubted. 6. Aggrieved by the order of Ld. CIT (A) revenue is in appeal before us now. 7. At the outset, Ld.AR submitted that the appeal against the addition sustained by Ld.CIT(A) in the quantum is pending before this tribunal. However considering the debatable in nature of the issue involved we are of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 14 A of the act was a debatable issue. 10. We have perused the submissions advanced by both the sides in the light of the records placed before us. 11. In the assessment order Ld.AO has not been able to establish regarding any concealment of material facts or furnishing of inaccurate particulars by assessee. It is observed that disallowance has been made by considering ..... X X X X Extracts X X X X X X X X Extracts X X X X
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