Tag: penalty 271b

Penalty u/s 271B for sales disclosed during survey can not be levied for failure to get accounts audited u/s 44AB when such sales not entered in the regular books of accounts-ITAT ABCAUS Case Law Citation: ABCAUS 2273 (2018) (04) ITAT The appellant assessee had challenged the order of …

Penalty 271B-Statutory auditor not tax auditors delay. Delay in completing statutory audit by Cooperative auditor was sufficient cause not imposing penalty as the assessee filed the tax audit report immediately after getting /and obtaining the same from  Chartered accountant. This was held by ITAT in a recent judgment. …