TMI BlogLevy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee...Levy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee maintains the books of accounts but fail to get them audited - no reason to initiate penalty u/s 271B. The penalty for non-maintenance of books of accounts has already been rightly levied, hence the offence has already been taken note of and the only recourse is to levy penalty u/s 271A for non-compliance of Section 44AA. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
