Levy of penalty u/s 271B - violation to get accounts audited u/s ...

Broad Interpretation of "Relevant" in Section 275(1)(a) Affects Penalty u/s 271B for Audit Failures.

April 8, 2019

Case Laws Income Tax AT

Levy of penalty u/s 271B - violation to get accounts audited u/s 44AB - The word ‘relevant’ qualifying the words ‘assessment or other order’ in section 275(1)(a) has to be read in a broad, rather than in a narrow, sense, in keeping with the purpose and need for the said exclusion. In the present case, the quantum of turnover is fundamental to the levy of penalty - order within limitation

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Levy of penalty u/s 271B - violation to get accounts audited u/s ...

Broad Interpretation of "Relevant" in Section 275(1)(a) Affects Penalty u/s 271B for Audit Failures.

April 8, 2019

Case Laws Income Tax AT

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