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2015 (12) TMI 392 - AT - Income TaxPenalty u/s 271B - assessee has obtained the tax audit report on 30th September 2008 and not before 30th September, 2008 - CIT (A) confirmed penalty holding that assessee has committed a default by not getting its accounts audited before the due date - Held that:- The meaning of the word ‘before’ in section 44AB of the Act is cloudy and uncertain. The word is possible of two meanings, one being the common meaning and the other as given in Chamber’s Twentieth Century Dictionary as ‘previous to the expiration of’. Looking to the other sections of the Act as above and giving harmonious construction we hold that the expression ‘before the specified date’ in section 44AB of the Act means ‘on or before the specified date’. In this view of the matter, there was no delay in audit of the accounts in terms of section 44AB of the Act - Decided in favour of assessee.
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