Penalty u/s 271B - Failure to get the books of accounts audited ...

Case Laws Income Tax

September 1, 2016

Penalty u/s 271B - Failure to get the books of accounts audited u/s 44AB - assessee was himself ill due to which he could not maintain essential books, hence same constitutes a reasonable cause. Penalty deleted - AT

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Penalty u/s 271B - Failure to get the books of accounts audited ...

Case Laws Income Tax

September 1, 2016

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The ITAT considered a case involving Penalty u/s 271B for not auditing books as per section 44AB. The Assessee argued books were not updated by the due date for audit...

Penalty levied u/s 271B - not getting accounts Audited within the due date specified u/s 44AB - It was established that the appellant did not maintain the books of...

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Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

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Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT

Penalty levied u/s 271B - failure to get accounts audited u/s 44AB - books of account and other relevant documents were destroyed by natural calamity, i.e. flood - No penalty

Levy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee maintains the books of accounts but fail to get them audited - no reason...

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