Penalty u/s 271B - delay in furnishing a report of such audit as ...

Income Tax

February 17, 2023

Penalty u/s 271B - delay in furnishing a report of such audit as required u/s 44AB - The very object behind enactment of the provisions of section 44AB is only to enable the AO to determine the correct taxable income in accordance with the provisions of the Act. The fact that the returned income was accepted by the AO goes to show that no prejudice was caused to the AO on account of delay in submission of tax audit report. - No penalty - AT

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Penalty u/s 271B - delay in furnishing a report of such audit as ...

Income Tax

February 17, 2023

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