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Income Tax Case Laws - Section: 271B


Income Tax

Cases for Section: 271B

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Showing 1 to 15 of 187 Records


The Commissioner of Income Tax Versus M/s. ECC. Project Pvt. Ltd.

Cancellation of penalty u/s 271B – No assessment proceedings pending –Failure to record satisfaction by AO - Held that:- The satisfaction as to the assessee having concealed the particulars of his income or furnished inaccurate particulars of such in ......

2014 (7) TMI 594 - ITAT MUMBAI

Sujata Trading Private Limited Versus Income Tax Officer

Audit report obtained u/s 44AB of the Act – Wrong information given to AO - Whether the statement of the assessee that it has obtained the tax audit report prior to filing of return is correct or not – Held that:- The corporate assessees have to furn ......

2014 (5) TMI 693 - ITAT AHMEDABAD

Saiyad Saukatli Saiyadmiya Prop. Saibaba Transport Versus The ITO, Ward-3, Nadiad

Failure to audit accounts u/s 44AB – Payment received exceeded monetary limit – Held that:- Assessee contended that he was acting as an agent and had arranged the trucks owned by others on hire for his principal and the receipts which was received by ......

2014 (4) TMI 627 - ITAT MUMBAI

Hamid Indrapurwala Versus The Income Tax Officer, Mumbai

Bar of limitation - Validity of the penalty order passed u/s 271B of the Act – Held that:- The penalty proceedings have been initiated on 06.10.2003 and also again on 09.02.2004 - But the penalty order has been passed only after 03.03.2006 – the pena ......

2014 (4) TMI 287 - ITAT DELHI

SPA Lifestyle (P) Ltd. Versus ACIT, Circle 9(1), New Delhi

Penalty u/s 271B of the Act - furnishing of form 3CB instead of form 3CA - Whether the assessee is required to wait till completion of statutory audit under the relevant provision of the Act or it has to furnish the tax audit report as contemplated u ......

2014 (4) TMI 206 - ITAT MUMBAI

APL (India) Private Limited Versus JCIT (OSD) -8(1), Mumbai

Levy of penalty u/s 271B – Delay in getting and furnished Tax Audit report - non-compliance with provisions of section 44AB – Held that:- According to section 273B, no penalty shall be imposable on person, for any failure which interalia include def ......


Sagar Dutta Versus Commissioner of Income-tax And Another

Penalty u/s 271B of the Act – Audit of accounts as per section 44AB of the Act – Mandatory requirement to obtain approval - Held that:- The order imposing penalty does not disclose that prior approval of the Joint Commissioner was obtained in either ......

2014 (1) TMI 1582 - ITAT MUMBAI

Anahaita Nalin Shah Versus DCIT 4(1), Mumbai

Penalty u/s 271B - Tax Audit - The assessee failed to furnish bonafide reasons for not getting the books of accounts audited either before the AO or the FAA - Held that:- The assessees total turnover of the business in transacting shares was higher ......

2013 (12) TMI 1108 - ITAT PUNE


Penalty u/s.271B – failure to get its accounts audited and furnished before prescribed date u/s 44AB - Waiver of penalty u/s 273B - Held that:- The audit report signed by the auditors in the instant case is dated 01-08-2008 - The assessee is required ......

2013 (12) TMI 1005 - ITAT KOLKATA


Penalty under section 271B – failure to get its accounts audited - Held that:- the professional income of the assessee received from partnership firm of Chartered Accountants is taxable under the head “income from business or profession” - the asses ......

2013 (12) TMI 767 - ITAT PUNE

Krishi Utpanna Bazar Samittee Versus ITO, Ward-2(2), Jalgaon

Penalty u/s 271B - assessee has failed to audit its books of account as required u/s.44AB - Held that:- The assessee was exempt from tax upto A.Y. 2002-03 and the law was amended w.e.f. 01-04-2003 - As per the amended provision the definition of loc ......

2013 (10) TMI 658 - KERALA HIGH COURT

M/s. Metro Agencies Versus The Deputy Commissioner of Income Tax

Penalty u/s 271B - Failure to get its accounts audited or submitted before due date - Whether the cause shown by an assessee would constitute a good cause for the non-compliance in order to avoid him from paying the penalty imposed – contention that ......

2013 (10) TMI 649 - ITAT AMRITSAR

Improvement Trust Versus The Dy. CIT, Circle-I, Bathinda

Penalty u/s 271B of the Income Tax Act – Failure to comply with the requirement of tax audit u/s 44AB of the Income Tax Act - Explanation of the assessee to the show cause notice is that the assessee was a statutory body and it was also allowed regis ......

2013 (6) TMI 357 - ITAT CHANDIGARH

Himalyan Labour & Construction Coop Society Ltd. Versus DCIT. Mandi (HP)

Penalty u/s 271B - delay in filing return - non furnishing of tax audit report before the specified date - Held that:- Interpretation given by CIT(A) is correct because if return is filed late then requirement for non filing the audit report cannot b ......

2013 (4) TMI 392 - ITAT COCHIN

KV. Ramachandran Versus Deputy Commissioner of Income-tax, Circle 1(1)

Penalty u/s 271B - non maintenance of books off account by the taxpayer as a civil contractor mainly engaged in government contract - Also penalty u/s 271A levied - Held that:- When the Parliament in its wisdom expects every person carrying on busine ......



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