Case law and opinion for filing levy against penalty under section 271B of the IT Act

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..... Case law and opinion for filing levy against penalty under section 271B of the IT Act
Query (Issue) Started By: - DURAISAMY ANANDHAN Dated:- 8-7-2018 Last Reply Date:- 8-7-2018 Income Tax
Got 3 Replies
Income Tax
My assesee is a goods transport operator. Since she had not more than 10 vehicles any time during the year she had filed ROI u/s 44AE. Her family members also the same hence .....

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..... they are also filed their ROI u/s 44AE.one year she got a big contract work for 8.00 chores. Hence the assessee got the contract on her name and operated all the family members vehicle for that contract. Please note that there is no written contract between family members and her. But all the contract amount are received through her Bank account only. TDS u/s 194C is also there on her PAN only. Af .....

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..... ter survey conducted in the contractee premises, ADIT came for verification for genuinity of the transaction and instructed orally to the assesee that ROI should be filed on her name only since the entire contract amount was accounted on her PAN. accordingly revised return of income has been filed u/ s 44AB. Now assessment completed u/s 143(3) and levied penalty u/s 271B. Please give opinion and c .....

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..... ase laws for my assesee Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Section 271B povides for penalty if an assessee has not done audit under section 44AB after crossing the threshold limit. In your case it seems whether you are coming under the purview of tax audit. As per the contract made by your client it may be presumed that she will cover under tax audit. If the same is not done the pena .....

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..... lty levied is correct. Reply By DURAISAMY ANANDHAN: The Reply: Thank you sir for your early reply. My case is audited u/s 44AB. But audited and filed after the due date. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: You may file appeal before the Appellate Authority concerned.
Discussion Forum - Knowledge Sharing .....

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