Delay in Auditing Books Not a Taxpayer Failure u/s 271B; No Penalty Triggered for Late Audits.

Delay in Auditing Books Not a Taxpayer Failure u/s 271B; No Penalty Triggered for Late Audits. https://www.taxtmi.com/highlights?id=51563 Penalty u/s 271B - Delay in getting the books of accounts audited cannot be considered as failure on the part of the assessee as envisaged under the provisions of section 271B of the Act. Thus the delay in getting the accounts audited cannot attract the penalty provisions as specified under section 271B of the Act. en-us Mon, 03 Feb 2020 13:18:31 +0530 Mon, 03 Feb 2020 13:18:31 +0530 TaxTMI RSS Generator Delay in Auditing Books Not a Taxpayer Failure u/s 271B; No Penalty Triggered for Late Audits. https://www.taxtmi.com/highlights?id=51563 Penalty u/s 271B - Delay in getting the books of accounts audited cannot be considered as failure on the part of the assessee as envisaged under the provisions of section 271B of the Act. Thus the delay in getting the accounts audited cannot attract the penalty provisions as specified under section 271B of the Act. Highlights Income Tax Mon, 03 Feb 2020 13:18:31 +0530 https://www.taxtmi.com/highlights?id=51563