Maintenance of accounts under Section 44AA is mandatory; penalty proceedings must be initiated for noncompliance. Compliance with the requirement to maintain books of account under Section 44AA is mandatory and failure to do so attracts penalty under section 271A. Assessing Officers are directed to initiate penalty proceedings where non compliance is noticed, and supervisory officers and the Internal Audit wing must verify compliance during inspections and audits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Maintenance of accounts under Section 44AA is mandatory; penalty proceedings must be initiated for noncompliance.
Compliance with the requirement to maintain books of account under Section 44AA is mandatory and failure to do so attracts penalty under section 271A. Assessing Officers are directed to initiate penalty proceedings where non compliance is noticed, and supervisory officers and the Internal Audit wing must verify compliance during inspections and audits.
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