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Income Tax Case Laws - Section: 271B

Cases for Section: 271B
Showing 1 to 15 of 191 Records

2015 (3) TMI 321 - MADRAS HIGH COURT

Sancheti Motors Ltd. Versus The Income Tax Officer, Ward - I(3), Chennai

Penalty under Section 271B - no reasonable cause for delayed filing of the audit report - Held that - In the case on hand, the assessee filed return of income on 27.3.1990 and the audit report was obtained on 27.4.1990 and submitted during the course.....



Penalty u/s.271B - Tax Audit Report not submitted within the due date - Held that - Appellant-assessee is a sick unit under the BIFR and could not finalize its Accounts and obtain the Tax Audit Report before 31.03.1994. The assessee had submitted the.....


Attara Gas Service Versus Commissioner of Income Tax, Kanpur and another

Sale of gas cylinders to be included in the turnover or not - Whether the sale of gas cylinders by the appellant was liable to be included in the turnover and was required to be audited u/s 44AB Held that - The agreement clearly indicated that the as.....


The Commissioner of Income Tax Versus M/s. ECC. Project Pvt. Ltd.

Cancellation of penalty u/s 271B No assessment proceedings pending Failure to record satisfaction by AO - Held that - The satisfaction as to the assessee having concealed the particulars of his income or furnished inaccurate particulars of such incom.....

2014 (7) TMI 594 - ITAT MUMBAI

Sujata Trading Private Limited Versus Income Tax Officer

Audit report obtained u/s 44AB of the Act Wrong information given to AO - Whether the statement of the assessee that it has obtained the tax audit report prior to filing of return is correct or not Held that - The corporate assessees have to furnish .....

2014 (5) TMI 693 - ITAT AHMEDABAD

Saiyad Saukatli Saiyadmiya Prop. Saibaba Transport Versus The ITO, Ward-3, Nadiad

Failure to audit accounts u/s 44AB Payment received exceeded monetary limit Held that - Assessee contended that he was acting as an agent and had arranged the trucks owned by others on hire for his principal and the receipts which was received by him.....

2014 (4) TMI 287 - ITAT DELHI

SPA Lifestyle (P) Ltd. Versus ACIT, Circle 9(1), New Delhi

Penalty u/s 271B of the Act - furnishing of form 3CB instead of form 3CA - Whether the assessee is required to wait till completion of statutory audit under the relevant provision of the Act or it has to furnish the tax audit report as contemplated u.....

2014 (4) TMI 627 - ITAT MUMBAI

Hamid Indrapurwala Versus The Income Tax Officer, Mumbai

Bar of limitation - Validity of the penalty order passed u/s 271B of the Act Held that - The penalty proceedings have been initiated on 06.10.2003 and also again on 09.02.2004 - But the penalty order has been passed only after 03.03.2006 the penalty .....


Sagar Dutta Versus Commissioner of Income-tax And Another

Penalty u/s 271B of the Act Audit of accounts as per section 44AB of the Act Mandatory requirement to obtain approval - Held that - The order imposing penalty does not disclose that prior approval of the Joint Commissioner was obtained in either of t.....

2014 (1) TMI 1582 - ITAT MUMBAI

Anahaita Nalin Shah Versus DCIT 4(1), Mumbai

Penalty u/s 271B - Tax Audit - The assessee failed to furnish bonafide reasons for not getting the books of accounts audited either before the AO or the FAA - Held that - The assessee s total turnover of the business in transacting shares was higher .....

2013 (12) TMI 1455 - ITAT LUCKNOW

ACIT Versus M/s Triveni Kshetriya Gramin Bank

Deduction u/s 80P denied - CIT(A) allowed the claim deeming the assessee bank as co-operative society - Held that - In the present case, a clear finding is given by the Assessing Officer that by various judgments cited by learned A.R. of the assessee.....

2014 (4) TMI 206 - ITAT MUMBAI

APL (India) Private Limited Versus JCIT (OSD) -8(1), Mumbai

Levy of penalty u/s 271B Delay in getting and furnished Tax Audit report - non-compliance with provisions of section 44AB Held that - According to section 273B, no penalty shall be imposable on person, for any failure which interalia include defaults.....

2013 (12) TMI 767 - ITAT PUNE

Krishi Utpanna Bazar Samittee Versus ITO, Ward-2(2), Jalgaon

Penalty u/s 271B - assessee has failed to audit its books of account as required u/s.44AB - Held that - The assessee was exempt from tax upto A.Y. 2002-03 and the law was amended w.e.f. 01-04-2003 - As per the amended provision the definition of loca.....

2013 (10) TMI 649 - ITAT AMRITSAR

Improvement Trust Versus The Dy. CIT, Circle-I, Bathinda

Penalty u/s 271B of the Income Tax Act Failure to comply with the requirement of tax audit u/s 44AB of the Income Tax Act - Explanation of the assessee to the show cause notice is that the assessee was a statutory body and it was also allowed registr.....

2013 (10) TMI 658 - KERALA HIGH COURT

M/s. Metro Agencies Versus The Deputy Commissioner of Income Tax

Penalty u/s 271B - Failure to get its accounts audited or submitted before due date - Whether the cause shown by an assessee would constitute a good cause for the non-compliance in order to avoid him from paying the penalty imposed contention that th.....

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