were required to be audited by
an accountant in terms of Section 44AB of the Act. It is the case of the
petitioner that ... books of accounts audited by an
accountant in terms of Section 44AB of the Act and therefore, it did not
file its return of income
dated 14.01.2019 @
4.3% (including EC/Surcharge) as per section 44AB of the Act for a
period from 03.10.2018 to 31.03.2019 was also obtained ... Whether it was subjected to Audit u/s 44AB ?
Ans: Yes, their books of accounts were subjected to audit us
44AB and the audit details
Assessment Year:2016-17
1. As per the provisions of section 44AB of the IT Act, 1961 the persons, carrying
on business, whose turnover exceeds ... Both the conditions are required to be satisfied in comphance to section 44AB of
the I.T Act, 1961. Merely getting account audited
case, it cannot be imported from Section
44AD or 44AB and read into it.
b) Partnership Remuneration is actually Gross Receipt
which has been received ... Principal Commissioner of Income Tax ,
wherein issue involved was applicability of Section 44AB on
receipt of Partnership Remuneration.
In the appellate stage, I find that
assessee has not complied with the provisions
of section 44AB of the Act. The ld AO observed that the assessee was liable ... account audited for the A.Y. 2018-19 as required u/s 44AB of the Act,
but has failed to do so same within
Income Tax Act the non-compliance of the provision of
section 44AB of the Income Tax Act and therefore the ld. AO be directed ... that 'large turnover but books of accounts not
audited u/s. 44AB ' and on the issues of '44AB audit compliances'.
Notice
account of
"international transactions" and tax audit under section 44AB and therefore
the due date for filing the return and exercising the option ... which makes it evident that
neither the tax-audit report under section 44AB nor the transfer-pricing
report under section 92E could have been furnished
assessee was expected to
file within the due date prescribed u/s.44AB of the Act, had not
been filed. Ld. Counsel for the assessee ... under sub-section (1) of section 139 . The relevant provisions of
section 44AB of the Act and Rule 17B of IT Rules are as under
account and get the same audited as per the provisions
of sec.44AB of the Act.
xiv. On the facts and in the circumstances ... thereby violated the
5
ITA.No.1330/Hyd./2025
provisions of Sec.44AB and that as the assessee has neither
maintained any books of account
exceeding the threshold
prescribed u/s. 44AB . Accordingly, the assessee was required to get
the accounts audited and furnish the tax audit report within ... assessee failed to
comply with the provisions of section 44AB , penalty proceedings
u/s. 271B were initiated. The AO passed an order dated 26.08.2024
levying
