penalty 271b

  • Income Tax

Penalty u/s 271B deleted due to bona fide belief of not subject to tax audit

Penalty u/s 271B not leviable as assessee was under bona fide belief that he was not subject to tax audit…

2 weeks ago
  • Income Tax

Penalty set aside as Tax Audit Report not filed due to strained relationship with CA

ITAT set aside Penalty u/s 271B as Tax Audit Report was not filed due to strained relationship with CA In…

2 months ago
  • Income Tax

Penalty 271B deleted as notices uploaded on portal only & assessee was a divorcee lady

Penalty u/s 271B deleted as notices were uploaded on portal only, assessee being a divorcee lady could not access income…

4 months ago
  • Income Tax

No Penalty u/s 271B for non Tax Audit when AO treated capital gain as business income

No Penalty u/s 271B for non Tax Audit when AO treated capital gain transaction as business income In a recent…

5 months ago
  • Income Tax

Turnover u/s 44AB for speculation business is only net difference of independent transactions

Turnover in respect of speculation business is only net difference of independent transactions In a recent judgment, ITAT has held…

5 months ago
  • Income Tax

Penalty u/s 271B for belated tax audit report deleted where accountant suddenly left the job

Penalty u/s 271B deleted where accountant handling accounts suddenly left the job but assessee furnished audit report before completion of…

1 year ago
  • Income Tax

Penalty u/s 271B deleted as assessee was unaware of Tax Audit Provision

Penalty u/s 271B deleted as assessee was not aware that section 44AB related to Tax Audit was applicable to him…

1 year ago
  • Income Tax

AO can not question genuineness of medical certificate unless has material to counter it-ITAT

AO can not question genuineness of medical certificate unless he has some material to counter it – ITAT deletes penalty…

1 year ago
  • Income Tax

Delay in filing of Tax Audit Report due to computer data crash- Penalty u/s 271B quashed

Delay in filing of Tax Audit Report due to computer data crash- Penalty u/s 271B quashed ABCAUS Case Law Citation:ABCAUS…

1 year ago
  • Income Tax

Penalty u/s 271B deleted as Accounts not finalised due to TDS credit mismatch / resignation of accountant

Penalty u/s 271B deleted. Books of Accounts not finalised due to TDS credit mismatch despite assessee made sincere attempts for…

4 years ago