Penalty under section 271(1)(c) deleted where income was disclosed in section 153A returns and remaining additions were only estimated or computationa...
Levy of Penalty u/s. 271B for failure to get accounts audited u/s 44AB - The ITAT held that once a penalty has been levied under Section 271A for non-maintenance of books of accounts, no penalty under Section 271B can be levied. - Citing precedents and relevant case law, the Tribunal emphasized that Section 271B is not applicable when no accounts have been maintained, and recourse to Section 271A should be taken instead.
Levy of Penalty u/s. 271B for failure to get accounts audited u/s 44AB - The ITAT held that once a penalty has been levied under Section 271A for non-maintenance of books of accounts, no penalty under Section 271B can be levied. - Citing precedents and relevant case law, the Tribunal emphasized that Section 271B is not applicable when no accounts have been maintained, and recourse to Section 271A should be taken instead.
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