Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2020 Year 2020 This

Penalty u/s 271B - Assessee may have a view that prior to the ...


Assessee's Penalty u/s 271B Deleted Due to "Reasonable Cause" for Not Filing Tax Audit Report Timely.

September 7, 2020

Case Laws     Income Tax     AT

Penalty u/s 271B - Assessee may have a view that prior to the date he was not required to file the audit report along with the return of income but obtain tax audit report prior to due date of filing of ROI.Therefore, it cannot be said that assessee did not have a "reasonable cause" for not filing tax audit report along with the return of income. - Penalty deleted - AT

View Source

 


 

You may also like:

  1. 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...

  2. Tribunal found assessee had reasonable cause for delay in furnishing Tax Audit Report due to delay in finalization of statutory audit arising from dispute between Board...

  3. 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...

  4. 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...

  5. The assessees, being cooperative societies, had no control over the timely completion of audits by statutory auditors as mandated u/s 44AB of the Income Tax Act. The...

  6. 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 -...

  7. 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...

  8. 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,...

  9. 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...

  10. The assessee was levied penalty u/s 271B for delay in filing the audit report u/s 44AB within the stipulated time. The assessee contended that the invoices and other...

  11. Penalty levied u/s 271B - assessee has filed the tax audit report belatedly - business of the assessee was totally came to a standstill and matters went to a very...

  12. Levy of penalty u/s 271B - Sufficient / reasonable cause for the delay in filing the tax audit report. - The appellant argued that the delay was due to the late receipt...

  13. 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...

  14. Penalty u/s 271B - non-filing of Tax audit report u/sec. 44AB of the Act within the due date under section 139(1) - Due to technical issues and pressure of work, the...

  15. 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...

 

Quick Updates:Latest Updates