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Income Tax - Highlights / Catch Notes

Home Highlights February 2019 Year 2019 This

Penalty levied u/s 271B - treatment of unaccounted sale as the ...


Penalty u/s 271B Not Upheld Due to Unofficial Documents Used; Audit u/s 44AB Not Required.

February 4, 2019

Case Laws     Income Tax     AT

Penalty levied u/s 271B - treatment of unaccounted sale as the turnover - requirement of audit u/s 44AB - the documents relied upon by the A.O. are neither the part of books of account nor would substitute the books of account or constitute the books of account of the assessee regularly maintained - No penalty.

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