Penalty u/s 271B - Tax Audit - The assessee was under the ...

High Court Rules No Penalty for Club on Tax Audit Non-Compliance Due to Bona Fide Belief u/s 271B.

March 10, 2016

Case Laws Income Tax HC

Penalty u/s 271B - Tax Audit - The assessee was under the bonafide belief that the provisions of Section 44AB of the Act were not applicable to a Club, while supplying beverages, liquor etc., to its members as it was not engaged in any business, but only a mutuality. - No penalty - HC

View Source

← Previous Next →

Penalty u/s 271B - Tax Audit - The assessee was under the ...

High Court Rules No Penalty for Club on Tax Audit Non-Compliance Due to Bona Fide Belief u/s 271B.

March 10, 2016

Case Laws Income Tax HC

You may also like:

Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Penalty u/s 271B - failure to file audit report on due date - penalty levied u/s 271B cannot be levied for the reason that there was a failure on the part of the...

Penalty u/s 271B was levied on the assessee for failure to get accounts audited despite turnover exceeding prescribed limit u/s 44AB. The Assessing Officer relied solely...

Penalty u/s. 271B - non filing the tax audit report - when the assessee entertained bona-fide belief that its account were not subject to audit u/s. 44AB, it would...

Assessee's appeal allowed by ITAT against penalty u/s 271B for non-compliance with Section 44AB. Assessee demonstrated reasonable cause for failure to file return and...

Levy of penalty u/s 271B - Failure to get accounts audited u/s 44AB - the claim of the Assessee that he was under reasonable and bona fide belief that his turnover did...

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...

Penalty u/s 271B - non-compliance of getting accounts audited u/s. 44AB - Ostensibly, the assessee was under bona fide belief that the advance are not turnover, which...

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...

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...

Extended period of limitation - Demand of Service Tax - It appears that non-payment of service tax could be on account of the belief that no service tax was payable in...

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...

Penalty U/s 271B - Failure to get accounts audited - Penalty confirmed - AT

The assessee had not obtained and furnished the Audit Report from the Accountant within the due date. The Tribunal held that the levy of penalty u/s 271B is not...

Quick Updates: