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Income Tax - Highlights / Catch Notes

Home Highlights November 2017 Year 2017 This

Penalty u/s 271B - determination of turnover - reasonable cause ...


Penalty u/s 271B: Reasonable Cause for Non-Audit Due to ICAI Guidelines and Turnover Disclosure Method.

November 28, 2017

Case Laws     Income Tax     AT

Penalty u/s 271B - determination of turnover - reasonable cause for not getting its accounts audited u/s 44AB - the belief of the assessee about the non applicability of provisions of section 44AB based on such method of disclosure as adopted by it following guidelines of ICAI was a bona fide belief. - AT

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