Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
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Penalty imposed u/s 271B for non-compliance with section 44AB audit report filing. Assessee failed to prove attending litigations or financial difficulties. Assessee filed audit reports for multiple years except one, indicating awareness of legal obligations. Lack of reasonable cause for non-compliance. Penalty upheld by Appellate Tribunal, dismissing assessee's appeal.
Penalty imposed u/s 271B for non-compliance with section 44AB audit report filing. Assessee failed to prove attending litigations or financial difficulties. Assessee filed audit reports for multiple years except one, indicating awareness of legal obligations. Lack of reasonable cause for non-compliance. Penalty upheld by Appellate Tribunal, dismissing assessee's appeal.
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