Audit of accounts under section 44AB of the Income-tax Act, 1961--Penalty under section 217B for assessment years 1985-86--Regarding

Audit of accounts under section 44AB of the Income-tax Act, 1961--Penalty under section 217B for assessment years 1985-86--Regarding https://www.taxtmi.com/circulars?id=5045 The Board had issued administrative instructions refraining from initiating penalty proceedings where the prescribed audit report had been obtained by the specified date and self-assessment tax paid within the normal filing period, and a later circular clarified that no penalty would be imposed where the audit report was obtained by that date. The Board has now withdrawn that later clarification circular following reconsideration in consultation with the Ministry of Law. en-us Fri, 06 Mar 1992 00:00:00 +0530 Fri, 08 Aug 2008 17:25:00 +0530 TaxTMI RSS Generator Audit of accounts under section 44AB of the Income-tax Act, 1961--Penalty under section 217B for assessment years 1985-86--Regarding https://www.taxtmi.com/circulars?id=5045 The Board had issued administrative instructions refraining from initiating penalty proceedings where the prescribed audit report had been obtained by the specified date and self-assessment tax paid within the normal filing period, and a later circular clarified that no penalty would be imposed where the audit report was obtained by that date. The Board has now withdrawn that later clarification circular following reconsideration in consultation with the Ministry of Law. Circulars Income Tax Fri, 06 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5045