Home Highlights February 2013 Year 2013 This

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1. Penalty u/s. 271A and 271B - non-maintenance of books of account and not getting the books of accounts audited u/s. 44AB recpectivily - once the penalty is levied for...

2. Levy of penalty u/s. 271B - The infraction of Section 44AB gets attracted only when the assessee maintains the books of accounts but fail to get them audited - no reason...

3. Penalty u/s 271A - violation of provisions of section 44AA - non-maintenance of books of accounts - Though the total income of the assessee was assessed by the AO as per...

4. Penalty u/s 271B - non maintenance of books off account by the taxpayer as a civil contractor - no books of accounts prescribed - penalty deleted - AT

5. Penalty u/s 271A - non maintenance of books of accounts - not furnishing tax audit report u/s 44AB - The commission being turnover/receipt for the purposes of 44AA and...

6. Penalty u/s 271B - Tax audit - failure to get books of accounts audited u/s 44AB - assessee did not maintain books of account u/s 44AA - Neither section 44AA and 44AB...

7. Penalty u/s 217B - not getting the books audited - once the penalty is levied for non-maintenance of book of accounts (u/s 44AA), there cannot be further default for not...

8. Penalty u/s.271A - non complying the provisions of Section 44AA - failure to maintain books of accounts - there is no any specific date or nearby date when the books of...

9. Penalty u/s.271A - non-maintenance of books of account u/s. 44AA - According to the registers the assessee is giving services of medical treatment and charging fee for...

10. Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

11. Rejection of books of account - trading addition - Assessee cannot claim advantage of lesser addition by getting the books rejected year after year and avoiding the...

12. Penalty u/s 271A - failure to maintain the books of accounts u/s 44AA - when the very basis of levying the penalty by the ACIT is contrary to the assessment framed by...

13. Penalty imposed u/s 271A - Failure to maintain books of accounts - no income from business or profession received by the assessee which exceeds Rs.1,20,000/-. Therefore,...

14. Addition under the head of Vehicle Running Expenses and Repairs & Maintenance - "exaggerated expense' or "not reasonable expense". - The onus is on the Revenue to...

15. Penalty u/s 271(1)(c) - Making an incorrect claim in law cannot tantamount to furnishing inaccurate particulars under Section 271(1)(c) of the Act. Mere making of a...