Home Highlights February 2013 Year 2013 This

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1. Penalty u/s. 271A and 271B - non-maintenance of books of account and not getting the books of accounts audited u/s. 44AB recpectivily - once the penalty is levied for...

2. Levy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee maintains the books of accounts but fail to get them audited - no reason...

3. Penalty u/s 271A - violation of provisions of section 44AA - non-maintenance of books of accounts - Though the total income of the assessee was assessed by the AO as per...

4. Section 271(1)(c) penalty was held invalid due to improper issuance of notice, as no proceedings were pending when the notice was issued on 19.12.2019. Section 271A...

5. Penalty proceedings u/s 271(1)(c) - Assessee company failed to provide bonafide explanation for inflated expenses claimed in revised return, contrary to audited...

6. The ITAT, an Appellate Tribunal, addressed the issue of penalty u/s 271B for failure to maintain and audit books of accounts under section 44AB. The assessee did not...

7. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

8. Penalty u/s 271B - Tax audit - failure to get books of accounts audited u/s 44AB - assessee did not maintain books of account u/s 44AA - Neither section 44AA and 44AB...

9. Penalty u/s 271A - non maintenance of books of accounts - not furnishing tax audit report u/s 44AB - The commission being turnover/receipt for the purposes of 44AA and...

10. Penalty u/s 271B - non maintenance of books off account by the taxpayer as a civil contractor - no books of accounts prescribed - penalty deleted - AT

11. Penalty u/s.271A - non complying the provisions of Section 44AA - failure to maintain books of accounts - there is no any specific date or nearby date when the books of...

12. Penalty u/s 217B - not getting the books audited - once the penalty is levied for non-maintenance of book of accounts (u/s 44AA), there cannot be further default for not...

13. Penalty u/s.271A - non-maintenance of books of account u/s. 44AA - According to the registers the assessee is giving services of medical treatment and charging fee for...

14. Rejection of books of account - trading addition - Assessee cannot claim advantage of lesser addition by getting the books rejected year after year and avoiding the...

15. Penalty u/s 271A - failure to maintain the books of accounts u/s 44AA - when the very basis of levying the penalty by the ACIT is contrary to the assessment framed by...