Penalty notice u/s 271AAB without specifying at what percentage the penalty will be levied makes it defective and invalid and…
No Penalty u/s 271B where assessee under bona-fide belief failed to get accounts audited u/s 44AB despite turnover exceeding threshold…
Penalty u/s 271(1)(b) deleted when assessment was framed u/s 143(3) proving that the assessee had cooperated in the assessment proceedings…
Penalty u/s 271B deleted for frequent change of Managing Director resulting delay in statutory audit causing delay in audit u/s…
Penalties shall followed by prosecutions-CBDT Chairman. Action shall be taken even before filing return for huge cash deposits with unmatched…