Penalty u/s 271B - transactions requiring audit report u/s. 44AB ...

Penalty Imposed for Late Audit Report u/s 271B: Ignorance of Law Not Accepted as Excuse.

May 7, 2022

Case Laws Income Tax AT

Penalty u/s 271B - transactions requiring audit report u/s. 44AB - There is further no dispute that neither the assessee had got prepared his audit report nor the same had been furnished well within time to the assessing authority; as the case may be. We therefore hold that mere ignorance of law pleaded herein at the assessee's behest hardly deserves to be treated as a reasonable cause - Levy of penalty confirmed - AT

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Penalty u/s 271B - transactions requiring audit report u/s. 44AB ...

Penalty Imposed for Late Audit Report u/s 271B: Ignorance of Law Not Accepted as Excuse.

May 7, 2022

Case Laws Income Tax AT

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