Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2007 (5) TMI 181 - HC - Income Tax
If assessee has not maintained account books then question of audit does not arise – section 271B is for imposing penalty when accounts are not audited – section 271A is for imposing penalty when accounts are not maintained –hence imposition of penalty u/s 271A may arise but imposition of penalty u/s 271B does not arise– penalty provisions should be strictly construed – Revenue’s appeal allowed