audited accounts as well as a statutory Audit Report
under section 44AB of the Act. In Note 4 to Schedule O of the
audited profit ... Petitioner
used to get its books of accounts audited under section 44AB of
the Act and this practice was being followed since more than
revised return was filed
based on the report prepared under section 44AB of the Act on 07.07.2010.
As per the provisions of section 44AB ... section 139 of the Act. In this case, the report under section 44AB of the Act
was prepared only on 07.07.2010, which is beyond
from other sources.
3.2 The Assessing Officer observed that according to Sec. 44AB of the I.T. Act,
1961 any person carrying on business where ... individuals unless he is a person liable to tax audit u/s 44AB of the I.T. Act
1961 and in this case, the assessee
assessee was required to get his books of
accounts audited under section 44AB of the Income-tax Act,
1961.
2 ITA no.2597/Del./2011 ... required to get his books of accounts audited u/s. 44AB of
the Income Tax Act, 1961, he was not required to deduct
from personal
account, therefore, was not subjected to tax audit u/s. 44AB of the IT Act. The
payees are also assessed ... account which was not subjected to tax audit u/s.44AB
and hence the appellant was not liable for deduction of tax at source
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
this
was the first year of applicability of provisions of section 44AB of the
Income Tax Act, 1961 and therefore ... purpose of calculating the turnover as per Provisions of Section 44AB of
the IT Act, thereby further erred in considering the appellant as eligible
holding that the assessee was not
liable for Audit u/s 44AB in A.Y 2013-14 and therefore not liable for
making ... assessee is not liable for audited u/s. 44AB and therefore
TDS provisions have no application. Not convinced with the submissions
of the assessee
case would fall
outside the purview of the Section 44AB ?"
3. We have heard Ld. Sr. DR Shri N. Dutta Gupta and gone through ... lacs and case does not fall under the provisions of section 44AB of the Act, it is
not required to deduct TDS u/s. 194C
year 2006-07 was less than prescribed limit as specified u/s. 44AB of the
Act. Therefore, the provision of TDS as specified ... financial
year 2006-07 exceeded the limit as prescribed u/s. 44AB of the Act. Therefore, the
ITA No.659/Kol/2013
