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No Audit on Books of Account u/s 44AB of IT Act due to Turnover Limitation: ITAT deletes penalty
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT) deleted the penalty for auditing the books of account under section 44AB of the Income...
![ITAT upholds Addition Due to Inadequate Maintenance of Books of Accounts [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-upholds-Addition-Due-Inadequate-Maintenance-of-Books-of-Accounts-TAXSCAN.jpg "ITAT upholds Addition Due to Inadequate Maintenance of Books of Accounts [Read Order]")
![No Addition on Regular items which were Disclosed by Assessee in Regular Books of Account: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Regular-items-Books-of-account-ITAT-taxscan.jpg "No Addition on Regular items which were Disclosed by Assessee in Regular Books of Account: ITATÂ [Read Order]")
![Addition u/s 68 and Taxing u/s 115BBE cannot be Invoked, when Assessee not required to Maintain Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Taxing-Invoked-Assessee-Maintain-Books-of-Accounts-ITAT-TAXSCAN-1.jpg "Addition u/s 68 and Taxing u/s 115BBE cannot be Invoked, when Assessee not required to Maintain Books of Accounts: ITAT [Read Order]")
Once Penalty Levied for Non-Maintenance of Book of Accounts, no further default for not getting Audited u/s 44AB: ITAT deletes Penalty u/s 271B
The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) has deleted penalty under Section under Section 271 of the Income Tax Act 1961 holding that once penalty is levied for non-maintenance of...
![Penalty u/s 271B Not Leviable once Penalty Levied for Non-Maintenance of Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Non-Maintenance-Books-of-Accounts-ITAT-TAXSCAN.jpg "Penalty u/s 271B Not Leviable once Penalty Levied for Non-Maintenance of Books of Accounts: ITAT [Read Order]")
Agriculturalist Need Not Maintain Books of Accounts: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT) Amritsar Bench, has recently, in an appeal filed before it, while deleting the addition u/s 68 of the income tax act, held that agriculturalist need not...
![Agriculturalist Need Not Maintain Books of Accounts: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Agriculturalist-Books-of-Accounts-ITAT-Income-Tax-Act-Income-tax-taxscan.jpg "Agriculturalist Need Not Maintain Books of Accounts: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
Penalty u/s 271B Not Leviable If Assessee was under Bonafide Belief that Books of Accounts Need Not be Audited: ITAT [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that the penalty under section 271B of Income Tax Act 1961 is not leviable if the assessee was under bonafide belief...
![Penalty u/s 271B Not Leviable If Assessee was under Bonafide Belief that Books of Accounts Need Not be Audited: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Penalty-Assessee-Bonafide-Bonafide-Belief-Books-of-Accounts-Audited-ITAT-Income-Tax-Taxscan.jpg "Penalty u/s 271B Not Leviable If Assessee was under Bonafide Belief that Books of Accounts Need Not be Audited: ITAT [Read Order]")
