Home Highlights April 2014 Year 2014 This

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1. Rectification u/s 154 - Deduction u/s 80IB - audit report in Form-10CCB was not filed along with the return of income - The ld. CIT(A) has rejected the appeals by...

2. Levy of penalty u/s.271B - belated submission of tax audit report - Admittedly, tax audit report was filed alongwith return filed in response to show cause notice issued...

3. Levy penalty u/s. 271B - not filing tax audit report within the due date specified under the Act - When audit report was obtained within due date, merely for delay in...

4. Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

5. Penalty levied u/s 271B - tax audit report - In our view, strained relationship with the earlier CA would constitute reasonable cause. The tax authorities have pointed...

6. Levy of penalty u/s. 271B - Audit Report as required u/s. 44AB of the Act, was not filed on or before due date - The assessee, although, filed Tax Audit Report beyond...

7. Penalty u/s 271B - delay in filing tax audit report - reasonable / bonafide cause - The assessee is not a habitual defaulter for filing the tax audit report. Therefore,...

8. Penalty u/s 271B - tax audit report could not be filed on time - when the loss return has been accepted by the Revenue and the audit report filed belatedly was available...

9. Exemption u/s 11 - Condonation of delay in filing the audit report in Form 10B - non filing of Audit Report along with return of income is a procedural omission and...

10. Denial of deduction u/s 10AA - assessee contended that filing of Audit Report as required u/s.10AA(8) of the Act, is procedural and directory in nature and thus, for...

11. Penalty imposed u/s. 271B - non filing of audit report within stipulated time - the assessee kept on changing its version for causing delay of filing tax audit report...

12. Penalty u/s 271B - Assessee may have a view that prior to the date he was not required to file the audit report along with the return of income but obtain tax audit...

13. CBDT extends due date for filing Income Tax Returns and Tax Audit Reports

14. Deduction u/s 80IB - delayed filing of audit report in the prescribed Form 10CCB - As the assessee had failed to comply with the statutory conditions which rendered her...

15. Exemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - None of the authorities had any occasion to verify Audit...