Penalty levied u/s. 271B - failure to get accounts audited - ...
Penalty u/s 271B Dismissed; Authorities Failed to Consider Reasonable Cause u/s 273B for Audit Non-Compliance.
October 27, 2022
Case Laws Income Tax AT
Penalty levied u/s. 271B - failure to get accounts audited - determination of turnover - accommodation entries - it is seen that the explanations offered by the assessee have been ignored by the Assessing Officer as well as CIT(A) and levied penalty u/s. 271B of the Act. The discretion available u/s. 273B is not exercised by the Lower Authorities. - No penalty - AT
View Source