Levy of penalty u/s. 271B - the assessee had committed only ...

Penalty u/s 271B Challenged: No Loss to Exchequer, Audit Report Already Accessible to Tax Authorities.

January 28, 2019

Case Laws Income Tax AT

Levy of penalty u/s. 271B - the assessee had committed only technical venial breach for which he cannot be penalized - No loss to the exchequer as the audit report was available to the Assessing Officer before the completion of the assessment proceedings.

View Source

← Previous Next →

Levy of penalty u/s. 271B - the assessee had committed only ...

Penalty u/s 271B Challenged: No Loss to Exchequer, Audit Report Already Accessible to Tax Authorities.

January 28, 2019

Case Laws Income Tax AT

You may also like:

Penalty levied u/s 271B - tax audit report - In our view, strained relationship with the earlier CA would constitute reasonable cause. The tax authorities have pointed...

Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

Levy penalty u/s. 271B - not filing tax audit report within the due date specified under the Act - When audit report was obtained within due date, merely for delay in...

Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

The assessee had not obtained and furnished the Audit Report from the Accountant within the due date. The Tribunal held that the levy of penalty u/s 271B is not...

The ITAT considered levy of penalty u/s 271B for a default related to Tax Audit Report u/s 44AB. The appellant obtained the audit report on time but inadvertently...

Penalty u/s 271B - delay in filing tax audit report - reasonable / bonafide cause - The assessee is not a habitual defaulter for filing the tax audit report. Therefore,...

Levy of penalty u/s.271B - belated submission of tax audit report - Admittedly, tax audit report was filed alongwith return filed in response to show cause notice issued...

Penalty order u/s. 271B - tax audit report U/s. 44AB - Assessee has wrongly uploaded the Form 3CD by selecting the earlier AY 2016- 17 instead of selecting the AY...

Tribunal found assessee had reasonable cause for delay in furnishing Tax Audit Report due to delay in finalization of statutory audit arising from dispute between Board...

Penalty levied u/s 271B - delay in furnishing audit report - bonafide belief - Delay in furnishing audit report has resulted only in technical venial breach which does...

Penalty imposed u/s. 271B - non filing of audit report within stipulated time - the assessee kept on changing its version for causing delay of filing tax audit report...

Penalty u/s 271B - Assessee may have a view that prior to the date he was not required to file the audit report along with the return of income but obtain tax audit...

Levy of penalty u/s 271B - failure to get the accounts audited and furnished the audit report before the specified due date - Statutory auditors appointed by the CA&G -...

Penalty u/s 271B - tax audit report could not be filed on time - when the loss return has been accepted by the Revenue and the audit report filed belatedly was available...

Quick Updates: