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2022 (4) TMI 722 - AT - Income TaxPenalty u/s 271B - not getting the books of accounts audited as required u/s 44AB - HELD THAT:- We find that the assessee has not disputed the fact of the turnover of the assessee of ₹ 27,69,32,010/-. The assessee has also not disputed the requirement of books of account be audited as per the provisions of section 44AB of the Act. Despite the fact that the books of account of the assessee were required to be added under section 44AB of the Act, the assessee has not explained the reasons for not getting the books of account audited. Thus when the assessee has not explained the reasons for not getting his books of account audited, we do not find any reason to interfere with the orders of the authorities below levying the penalty under section 271B - Decided against assessee.
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