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2016 (4) TMI 343 - AT - Income TaxPenalty U/s 271B - Failure to get accounts audited - Held that:- There is no evidence with the assessee to prove that he got account audited on 14/7/2008 by M/s Vimal Geol & Associates. Now law has been amended and not only the assessee got the account audited but audit report is to be submitted before due date in the office of the Assessing Officer. The assessee’s plea is that he has totally dependent on AR for submitting the return as well as audit report but this averment also has not been proved by him with cogent evidence. Therefore, we find that the ld CIT(A) was justified in confirming the penalty U/s 271(B) of the Act. Accordingly, we uphold the order of the ld CIT(A). - Decided against assessee.
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