Home Highlights July 2013 Year 2013 This

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1. Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

2. Levy of penalty u/s 271B – Delay in getting and furnished Tax Audit report - delay in completion of statutory audit was reasonable cause for non-compliance with section...

3. Penalty levied u/s 271B - tax audit report - In our view, strained relationship with the earlier CA would constitute reasonable cause. The tax authorities have pointed...

4. Penalty u/s 271B - delay in filing tax audit report - reasonable / bonafide cause - The assessee is not a habitual defaulter for filing the tax audit report. Therefore,...

5. Penalty u/s 271B - Delay in filing the tax audit report - delay occurred due to the Accountant leaving the job abruptly and it took time for the new Accountant to...

6. Penalty u/s 271B - delay filing of tax audit report contravening section 44AB - In factual matrix the assessee was suffering a financial exigency with legal battel. -...

7. Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

8. Penalty imposed u/s. 271B - non filing of audit report within stipulated time - the assessee kept on changing its version for causing delay of filing tax audit report...

9. Levy penalty u/s. 271B - not filing tax audit report within the due date specified under the Act - When audit report was obtained within due date, merely for delay in...

10. Penalty u/s 271B - non filing / delayed filing of audit report - bonafide reasons - delay due to expiry of digital signature and due to technical glitch in the system -...

11. Penalty levied u/s 271B - delayed furnishing of tax audit report u/s 44AB due to delay in getting statutory audit report under companies act - assessee had indeed...

12. Levy of penalty u/s. 271B - Audit Report as required u/s. 44AB of the Act, was not filed on or before due date - The assessee, although, filed Tax Audit Report beyond...

13. Penalty levied u/s 271B - delay in filing the audit report under section 44AB - reasonable cause of delay - The delay was caused due to search conducted by the...

14. Penalty order u/s. 271B - tax audit report U/s. 44AB - Assessee has wrongly uploaded the Form 3CD by selecting the earlier AY 2016- 17 instead of selecting the AY...

15. Penalty u/s 271B - delayed filing of audit report u/s 44AB - when the Tax Audit Report was made available to the AO before completion of assessment proceedings, then for...