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TMI Blog2014 (7) TMI 594X X X X Extracts X X X X X X X X Extracts X X X X ..... essees who are liable for audit under section 44AB of the Act to furnish certain information - The information to be given in “Part A-O1” contains the details to be furnished in Form No.3CD - the assessee has duly furnished all the details under “Part A-O1” of the return of income, there appears to be some truth in the submission of the assessee that it has obtained the tax audit report before the due date for filing return of income - the audit under the Companies Act and u/s 44AB of the Act was conducted by the very same auditor and he has confirmed the fact by filing an affidavit - the assessee could have obtained the audit report u/s 44AB of the Act before filing the return of income - the assessee could have obtained the tax audit repo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the auditor signing the tax audit. b. Membership No. c. Name of the auditor d. Permanent Account Number (PAN) of the proprietorship/ e. Date of audit report. The assessing officer noticed that the assessee has answered the above said question as NO and consequently it did not furnish the details relating to the auditor. Hence the AO took the view that the assessee did not get its accounts audited u/s 44AB of the Act and accordingly he initiated penalty proceedings u/s 271B of the Act. In response thereto, the assessee company submitted that it has got the audit report u/s 44AB of the Act on 01.09.2009 and the by inadvertent mistake, the answer was wrongly market as NO . It was further submitted that the details required t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he tax audit report along with the return of income. He further submitted that the details that are given in the Tax audit report are required to be given in Part A-O1 of the Ereturn. Inviting our attention to the copy of E-return, the Ld Counsel submitted that the assessee has furnished all those details in the E return, some of which are quantitative details, depreciation details, amount to be disallowed u/s 40 etc. The Ld A.R submitted these facts prove that the assessee has obtained tax audit report before the due date and also before filing return of income. He submitted that the E return was filled up and uploaded by a clerical staff and he has inadvertently filled up the relevant column with the answer NO . The Ld A.R further subm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpanies Act and under the Income tax Act has furnished an affidavit, wherein he has stated that he has signed the tax audit report in Form 3CA and Form 3CD u/s 44AB of the Act on 01-09-2009, i.e., before the due date for filing of return of income. 7. From the perusal of the provisions of sec. 44AB of the Act and the relevant rules, it may be noticed the corporate assessees have to furnish Tax audit report in Form 3CA and Form No.3CD. The non-corporate assessees have to furnish the tax audit report in Form 3CB and Form 3CD. A perusal of Form No.3CA would show that it requires the tax auditor only to furnish the details of audit conducted under the Companies Act, i.e., the tax auditor has to mention as to who conducted the audit under the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, meaning thereby, there appears to be some truth in the submission of the assessee that it has obtained the tax audit report before the due date for filing return of income. Our view is further fortified with the fact that the audit under the Companies Act and under sec. 44AB of the Act was conducted by the very same auditor and he has confirmed the said fact by filing an affidavit before us. Hence, on a holistic consideration of the facts surrounding the issue, we are of the view that the assessee could have obtained the audit report u/s 44AB of the Act before filing the return of income and it has inadvertently filled the relevant column wrongly as NO . Since the assessee could have obtained the tax audit report before the due date for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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