Audit Report not Filed within Stipulated Time Limit as Books not Given to Qualified CA:ITAT Upholds Penalty u/s 271B [Read Order]

Audit Report - Stipulated Time Limit - Time Limit - not Filed within Stipulated Time Limit - Books not Given to Qualified CA - CA - Books - Qualified CA - ITAT - Penalty - taxscan

The Pune Bench of Income Tax Appellate Tribunal (ITAT) has upheld the penalty under Section 271B of the Income Tax Act 1961 because the audit report was not filed within the stipulated time limit as the books were not given to a qualified Chartered Accountant. The assessee Santosh Swarupchand Bhandari, had not filed return of…

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