Penalty proceeding u/s 271A of Income Tax Act can’t be initiated on Proper maintenance of Books of Account: ITAT [Read Order]

ITAT - Books of accounts - Audit report - Penalty - Income Tax Act - taxscan

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that penalty proceeding under Section 271A of the Income Tax Act, 1961 cannot be initiated on proper maintenance of books of accounts. The assessee is an Individual, filed the appeal being aggrieved by an order passed under Section 271A r.w.s 44AA of the Income…

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