Bonafide Non-compliance with Audit Requirement u/s 44AB is Excusable: ITAT deletes the penalty [Read Order]

dishonest intention - ITAT - penalty - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT), while deleting a penalty order, has held that non-compliance with S.44AB of the Income Tax Act, 1961 can be excusable if it was committed without dishonest intention. The total turnover of the business of the Assessee was increased to Rs.1,30,57,127/- and therefore, the Assessee was…

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