Penalty u/s 271B - Tax audit - failure to get books of accounts ...

Income Tax

May 17, 2023

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 are in substitution of each other and nor the penalty levied u/s 271A and 271AB are in alternate or in substitution to each other. The separate and distinct provisions of section 44AA and 44AB of the Act not only apply on different class of persons but also on the different threshold of income/sales turnover. - Levy of penalty confirmed - AT

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Penalty u/s 271B - Tax audit - failure to get books of accounts ...

Income Tax

May 17, 2023

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