No Penalty for Audit Delay u/s 271B: Assessee Finalized Books Post Credit Notes, Deemed Beyond Control.

No Penalty for Audit Delay u/s 271B: Assessee Finalized Books Post Credit Notes, Deemed Beyond Control. https://www.taxtmi.com/highlights?id=31591 Levy of penalty u/s. 271B - Delay in getting the accounts audited and obtaining tax audit report u/s. 44AB - The assessee finalized its books after receiving credit notes - The delay in finalization of accounts was beyond the control of assessee - No penalty - AT en-us Thu, 06 Oct 2016 12:28:57 +0530 Thu, 06 Oct 2016 12:28:57 +0530 TaxTMI RSS Generator No Penalty for Audit Delay u/s 271B: Assessee Finalized Books Post Credit Notes, Deemed Beyond Control. https://www.taxtmi.com/highlights?id=31591 Levy of penalty u/s. 271B - Delay in getting the accounts audited and obtaining tax audit report u/s. 44AB - The assessee finalized its books after receiving credit notes - The delay in finalization of accounts was beyond the control of assessee - No penalty - AT Highlights Income Tax Thu, 06 Oct 2016 12:28:57 +0530 https://www.taxtmi.com/highlights?id=31591