Penalty u/s 271B

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....enalty u/s 271B<br> Query (Issue) Started By: - madhu tapuriah Dated:- 7-2-2008 Last Reply Date:- 14-2-2008 Income Tax<br>Got 1 Reply<br>Income Tax<br>An assessee got his accounts audited u/s 44AF of ....

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....the Income Tax Act, 1961 for assessment year 2007-2008 but could not file the income tax return.Whether penalty u/s 271B of the Act can be levied by tho ITO ? Reply By Surender Gupta: The Reply: Pen....

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....alty under section 271B is applicable for Failure to get account audited u/s 44AB only. Sub section (5) of section 44AF refers to provisions of section 44AB. I believe that the issue is debatable and ....

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....you may get favor at appropriate level and escape penalty.<br> Discussion Forum - Knowledge Sharing ....