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2022 (11) TMI 735 - HC - Income TaxLevy of penalty u/s 271B - default u/s 44AB - failure to get accounts get audited - appellant had not complied with the provisions of Section 44AB of the Act i.e., by submitting audited accounts - HELD THAT:- Tribunal noticed that subsequent to notice issued by the assessing officer for levy of penalty u/s 271B of the Act, appellant had claimed that he was under a genuine belief that his turnover had not crossed Rs.40 lakhs and therefore he need not get his accounts audited. It may be mentioned that the entertainment tax return of the appellant showed his turnover at Rs.3,37,70,270.00. Contradictory stand of the appellant when he contended that due to seizure of books by the sales tax authorities, audit of accounts under Section 44AB of the Act got delayed. Additionally Tribunal held that appellant did not file the income tax return voluntarily but it was in response to a notice under Section 148 of the Act. Tribunal confirmed the levy of penalty. We do not find any error or infirmity in the view taken by the Tribunal. No substantial question of law.
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