whole situation is that both the provisions,
i.e., section 44AB along with section 271B and section 139(9) can be
read together ... High Court and it was the
constitutional validity of section 44AB which was in issue before the
Hon'ble Court. It was with
below the limit prescribed u/s 44AB of
the Act. Appellant prays the penalty so levied may please be
deleted.
2 ITA 754/JP/2016 ... same as
undisclosed turnover, to determine the limit prescribed u/s 44AB by
ignoring the fact that the said amount was not recorded in regular
fields are filled, one such being
the details of audit under section 44AB of the said Act. Since the
petitioner was liable for audit under ... Section 44AB of the said Act, the
online return could not be uploaded without filling details of the audit
return. Therefore, the petitioner mentioned
established. Further, the accounts were not subjected to audit under section 44AB .
In the present case, the profit and loss account and balance sheet were ... accountant in the prescribed format as per the provisions of
section 44AB of the Act. It appears that all these aspects were not enquired into
Rules.
6.1 Further, referring to the Auditor Report furnished u/s 44AB of the
Act, the Pr.CIT held that the said report dated ... take appropriate
action applying the provisions of section 271B r.w.s. 44AB of the Act.
7. Aggrieved with the above decision
Therefore, as per provisions of section 44AB of the
I.T.Act,1961, the assessee should have got his books of accounts of proprietorship
business ... should not be initiated for violation of the provision of section 44AB of the I.T.
Act, 1961.
5. In compliance to the show cause
commission income was below the limit
of tax audit provided u/s 44AB of the Act.
4. Ld. Assessing Officer, however, brushed aside the submissions ... 271B of the Act
for not getting account u/s 44AB of the Act since the declared
2
Vinay Agrawal
ITANo.933/Ind/2018
turnover
tune of Rs.150000/- for not
getting books audited under section 44AB of the I.T. Act, 1961 under Section ... assessee has reasonable cause for not getting the books audited under
section 44AB of the I.T. Act, 1961 in time due the reasons beyond
furnishing the Tax Audit Report u/s 44AB within
the time prescribed under the said section.
ii. On the facts and in the circumstances ... Therefore, in terms of provisions of
section 44AB of the Act, the appellant was required to get its account
audited for the impugned assessment year
satisfaction that the assessee has not complied
with the provisions of Section 44AB of the Act and therefore, it is fit
case for initiation ... books of accounts audited within
stipulated period and as required U/s 44AB of the Act and consequently
penalty U/s 271B
