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2018 (6) TMI 599 - ITAT KOLKATAPenalty u/s 271B on failure to get accounts audited - Held that:- Assessee under consideration gets the accounts audited on 25.09.2013, that is, before the due date of filing audit report, which is 30.09.2013 - CBDT has extended time of uploading of audit report to 31.10.2013 - taking note of the extended period of one month, the Chartered Accountant, though accounts were audited on 25.09.2013, filed it manually on 08.10.2013 - Since the assessee got the audited accounts before 30.09.2013 and the income tax return has been filed in time and, therefore, there is no prejudice caused to the Revenue - thus for technical and venial breach on the part of Chartered Accountant of the assessee, the assessee cannot be penalized - hence penalty imposed by the AO and confirmed by the CIT(A) needs to be deleted - Decided in favor of assessee.
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