2013 (4) TMI 392

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..... not been prescribed under the Income-tax Rules in respect of business of civil contract. Accordingly deleted the penalty levied u/s 271A for not maintaining the books of account. Therefore, once the penalty for not maintaining the books of account was deleted, it is not known how the very same CIT(A) confirmed the penalty levied u/s 271B of the Act for not getting the books of account audited - thus the penalty levied u/s 271B is deleted. - IT Appeal No. 208 (Coch.) of 2012 - - - Dated:- 28-3-2013 - N.R.S. GANESAN AND B.R. BASKARAN, JJ. For the Appellant T.M. Sreedharan. For the Respondent Smt. Susan George Varghese. ORDER:- N.R.S. Ganesan, Judicial Member - This appeal of the taxpayer is directed against the order of .....

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..... 1A of the Act. The ld.senior counsel has also placed reliance on the decision of the Chandigarh Bench of this Tribunal in A.C.I.T. v. Aggarwal Construction Co. [2007] 106 ITD 129 (Chd)(TM). The ld.senior counsel further relied upon the decision of the Pune Bench of this Tribunal in the case of Shri Ramchandra D Keluskar in ITA No.668/PN/10, copy of which is also placed on record. 3. We have also heard Smt. Susan George Verghese, the ld.DR. The ld.DR submitted that since total receipts of the taxpayer during the year under consideration exceeded the limits prescribed u/s 44AB of the Act, the taxpayer was required to obtain the audit report. The contention of the taxpayer that since no books of account was maintained, the question of gettin .....

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..... t and other business in Rule 6F(1). When the Parliament in its wisdom expects every person carrying on business including civil contract, this Tribunal is of the considered opinion that the excecutive authorities (CBDT) ought to have prescribed minimum required books of account. The Karnataka High Court in the case of Babu Reddy (supra) and the co-ordinate benches of this Tribunal at Chandigarh in Aggarwal Construction Co. (supra) found that although books of account had to be prescribed, such books had not been prescribed under the Income-tax Rules in respect of business of civil contract. Accordingly, the Karnataka High Court in the case of Babu Reddy (supra) and the Chandigarh Bench of this Tribunal in the case of Aggarwal Construction C .....

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