Audit of accounts under section 44AB of the Income-tax Act, 1961-Penalty under section 271B for assessment year 1985-86-Regarding

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....             All Chief Commissioners (Admn.)             and Commissioners of Income-tax. Sir, Subject:  Audit of accounts under section 44AB of the Income-tax Act, 1961-Penalty under section 271B for assessment year 1985-86-Regarding. Section 44AB of the Income-tax Act, ....

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.... with effect from April 1, 1985, prescribes the manner and Forms in which the audit report required under section 44AB is to be submitted. These rules were notified on January 31, 1985. 4. A number of representations have been received from assessees and various trade associations expressing their difficulties in getting the accounts audited by the "specified date" this year. The matter has acc....