therefore the Assessee was required to get his accounts
audited u/s. 44AB of the Act since the Assessee had failed to furnish the
audit ... accounts of the appellant has not been got audited u/s.44AB of the Act
although the turnover/gross receipt during the year under consideration
date for filing the Tax Audit Report (TAR)
under section 44AB of the Income Tax Act, 1961 (hereinafter
referred ... issue with regard to filing of tax
audit return under section 44AB of the Act and the issue
relates only to the income tax returns
view of the
statutory audit conducted u/s 44AB. Accordingly, Return of Income for
AY 2010-11 was electronically filed on 20.09.2010 vide
Acknowledgement ... Income was filed
belatedly on 20.09.2010 instead of 04.08.2010, since ours is 44AB case
and last date is 30.09.2010. The Assessee is an individual
which is more than the monetary limits laid down in Sec- 44AB
and hence liable to get his accounts audited. As the assessee is covered ... under the provisions of section 44AB , the assessee is liable to deduct tax at
source u/s 192 , 194H and 194J in the respect
books of accounts
were not audited as required u/s. 44AB of the Act. The submission of the
Assessee that on purchase and sale ... considered to
be her turnover which would necessiate the audit u/s. 44AB of the Act. The
submission of the Assessee was not found acceptable
conducting of
tax audit U/s 44AB without considering the fact that the
assessee is a licensed stamp vendor who is selling stamp
received from ... commission did not
exceed the prescribed limit provided by Section 44AB, the assessee did
not get the accounts audited. The assessment also is framed
pertinent to note that the assessee got her
accounts audited u/s 44AB of the Act and filed Tax audit report along with her
return ... also pertinent to note that the
provisions of section 44AB of the Act prescribe different monetary limits for
persons carrying on business or carrying
facts and circumstances of the case, and having regard to Section 44AB of the Act as applicable during the relevant year, the levy of penalty ... Court held as under:
There is nothing in the language of section 44AB of the Income-tax Act, 1961, from which it can be inferred
accounts audited as per
provisions of section 44AB of the I.T. Act. The assessee was confronted
with the fact that BGEPIL had claimed above ... them
audited as per the requirement of section 44AB .
2.9. Further, the assessee's contention before ld. DRP was that the
manner of account
assessee failed to
obtain the requisite tax audit report prescribed under section 44AB of the Act.
As per the AO the total sale proceeds ... limit, which required the assessee to get its accounts audited under
section 44AB of the Act.
12.2 On this aspect, Ld. AR explained that
