Levy of penalty u/s. 271B - failure to get his books audited and ...

October 1, 2022

Case Laws Income Tax AT

Levy of penalty u/s. 271B - failure to get his books audited and furnish Audit Report u/s. 44AB - Section 271B as extracted above further throws light on the legislative intent as it specifically provides that no penalty "shall’ be imposed if the assessee proves "that there was reasonable cause for the said failure". - the explanations offered by the assessee have been ignored by the AO and CIT(A) - Penalty deleted - AT

View Source

← Previous Next →

Levy of penalty u/s. 271B - failure to get his books audited and ...

October 1, 2022

Case Laws Income Tax AT

You may also like:

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...

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...

Penalty u/s 271B - non-furnishing of the Audit Report before the specified date - As the AO has failed in his duty in verifying whether books of account were audited...

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 of penalty u/s 271B – Delay in getting and furnished Tax Audit report - delay in completion of statutory audit was reasonable cause for non-compliance with section...

The assessee was levied penalty u/s 271B for delay in filing the audit report u/s 44AB within the stipulated time. The assessee contended that the invoices and other...

Penalty u/s 271B - default u/s. 44AB - failure to get books of accounted audited and furnish the audit report - reasonable cause - Assessee plea that accounts having...

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 - failure to file audit report on due date - penalty levied u/s 271B cannot be levied for the reason that there was a failure on the part of the...

Penalty levied u/s 271B - delayed furnishing of tax audit report u/s 44AB due to delay in getting statutory audit report under companies act - assessee had indeed...

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

Penalty u/s 271B - Tax Audit - delay in getting the books of accounts audited and furnishing the same - period of limitation for passing penalty orders - the levy 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...

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...

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...

Quick Updates: