Income Tax Authorities Must Exercise Fairness in Imposing Penalties for Audit Failures u/s 271B.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty u/s 271-B - failure to get accounts audited - Under Section 271B there is discretion with the income tax authorities to award penalty and this discretion has to be exercised fairly and reasonably - HC....