Tag: Penalty u/s 271BA

Penalty u/s 271B for unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous and preceding year deleted by ITAT In a recent judgment, ITAT has held that unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. …

Possibility of initiating proceedings against an assessee cannot be kept pending over his head like a Damocle’s sword – Penalty u/s 271B quashed by High Court In a recent judgment, the Hon’ble Kerala High Court has quashed penalty u/s 271B observing that the possibility of initiating proceedings against …

Penalty u/s 271BA deleted for not uploading audit report in Form No. 3CEB due to technical glitches when report was obtained before prescribed date ABCAUS Case Law Citation: ABCAUS 2936 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Ajit Singh Rana Vs. ACIT (2013) 33 …