Penalty u/s 271B - failure to get the accounts audited in time - ...

Case Laws Income Tax

April 5, 2023

Penalty u/s 271B - failure to get the accounts audited in time - It appears that the book results shown by the assessee were substantially accepted by the revenue as genuine and the compliance was made by the assessee with some delay. The delay has also been explained by the assessee that it was the 1st year of the business - No penalty - AT

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Penalty u/s 271B - failure to get the accounts audited in time - ...

Case Laws Income Tax

April 5, 2023

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

The ITAT considered a case involving Penalty u/s 271B for not auditing books as per section 44AB. The Assessee argued books were not updated by the due date for audit...

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...

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 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

Penalty u/s 271B - the books of account of the Assessee have also been audited only on 30.09.2011, however it seems that somehow due to inadvertent or otherwise mistake...

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...

The ITAT Dehradun held that penalty u/s 271B was not applicable as the assessee failed to upload the Audit Report as required u/s 44AB and did not maintain books of...

Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

Additions towards difference in the 26AS (TDS statement) and the books results - books of account of the assessee duly audited - We have noted that the audited books of...

Penalty levied u/s 271B - assessee not got her accounts audited u/s 44AB - The assessee follows project completion method. Therefore, the claim of the assessee was that...

Penalty u/s 271B - non-audit of books of account - if a person has not maintained the accounts book or any accounts the question of its audit does not arise and in such...

Penalty u/s 271B - not getting the books of account audited u/s 44AB - AO levied penalty on the assessee as the cash deposit during the F.Y. 2016-17 exceeded the...

Penalty proceedings u/s 271B for failure to get accounts audited. The assessee's main income was commission earned from sales of milk, acting as an agent for the mother...

Penalty levied u/s 271B - failure to get accounts audited u/s 44AB - books of account and other relevant documents were destroyed by natural calamity, i.e. flood - No penalty

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