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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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....oner of Income-tax, Gujarat-I, Ahmedabad. Subject: Audit of accounts under section 44AB of the Income-tax Act, 1961-Penalty under section 271B for assessment year 1985-86-Regarding. Reference is invited to Circular No. 422, dated 19th June, 1985,* to the effect that penalty proceedings under section 271B of the Income-tax Act, 1961, for failure to comply with the provisions of section 44AB sho....