Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
Penalty levied u/s 271B - not getting the books of account audited u/s 44AB - The assessee society is also running an educational institution and was under the bonafide belief that since it is not carrying out any business or commercial activity, provisions of section 44AB of the Act are not attracted. In the instant case penalty u/s 271B of the Act was not leviable and we accordingly delete the penalty levied u/s 271B of the Act. - AT
Penalty levied u/s 271B - not getting the books of account audited u/s 44AB - The assessee society is also running an educational institution and was under the bonafide belief that since it is not carrying out any business or commercial activity, provisions of section 44AB of the Act are not attracted. In the instant case penalty u/s 271B of the Act was not leviable and we accordingly delete the penalty levied u/s 271B of the Act. - AT
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