Once Penalty is Levied for Non-Maintenance of Books of Accounts, No Further Default to be Imposed for not Getting the Same Audited u/s 44AB: ITAT
The Income Tax Appellate Tribunal (ITAT), Jaipur Bench, has recently, in an appeal filed before it, held that once penalty is levied for...
Penalty under Section 271B can’t be levied for Failure to get Accounts Audited under Section 44AB: ITAT [Read Order]
In Roshini Devi vs. Income Tax Officer, the Jaipur Bench of the Income Tax Appellate Tribunal ( ITAT ) held that penalty under Section 271B of the Income Tax Act, 1961 cannot be levied for non-audit...
![Penalty under Section 271B can’t be levied for Failure to get Accounts Audited under Section 44AB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/12/No-Penalty-Taxscan.jpg "Penalty under Section 271B can’t be levied for Failure to get Accounts Audited under Section 44AB: ITAT [Read Order]")
ITAT Deletes Penalty since Delay in filing Audit Report was due to Dispute with Auditor [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed by the Assessing Officer (AO) on ground that the delay in the submission of audit report was due to dispute with the...
![ITAT Deletes Penalty since Delay in filing Audit Report was due to Dispute with Auditor [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Audit-Report-Taxscan.jpg "ITAT Deletes Penalty since Delay in filing Audit Report was due to Dispute with Auditor [Read Order]")
It is Assessees’ Duty to ensure that Audited Books are submitted on time and that CA does his job properly: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that it is the responsibility of the assessee to ensure that the audited books are submitted in stipulated time and that Chartered...
![It is Assessees’ Duty to ensure that Audited Books are submitted on time and that CA does his job properly: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/10/Penalty-TaxScan.jpg "It is Assessees’ Duty to ensure that Audited Books are submitted on time and that CA does his job properly: ITAT [Read Order]")
No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal held that penalty under section 271B of the Income Tax Act is not leviable where the assessee was under a bonafide belief that books need not be...
![No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]")
![Property Advance above Rs. 20,000 must be disclosed in the Audit Report: CBDT [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/05/Deduction-Residential-Property.jpg "Property Advance above Rs. 20,000 must be disclosed in the Audit Report: CBDT [Read Notification]")