liable to get his accounts audited and
furnish Audit Report u/s. 44AB of the Act, as the assessee has
failed to get his books ... loss of Rs. 7,23,872/-. The
provisions of Section 44AB which prescribes the turnover in
business or profession exceeds 100 lakhs when the assessee
year under
consideration. Further, it was mandatory for audit u/s 44AB of
the IT Act 1961, as the transactions in derivatives were more than ... carrying out audit u/s 44AB . was not initiated.
Which are contrary to the facts and such a finding being
perverse, the impugned action
response to the notice and also financials were
audited u/s 44AB dated 5.10.2018.
3
ITA NOs. 1141 to 1145/MUM/2021
Maharashtra State Pharmacy ... discharged it onus of compiling to the
provisions of section 44AB of the Act.
(d) The assessee has committed a default within the meaning
under Section 271B for not furnishing tax
audit report enjoined by Section 44AB of the Act.
4. When the matter was called for hearing, none ... alleged failure of the assessee to get its account audited under
Section 44AB of the Act despite huge turnover/receipts and
consequently imposed penalty
271B of the Act for
not getting the accounts audited under section 44AB of the Act.
3. The facts in brief are that the assessee ... assessee to get its books of account
audited under section 44AB which has not been complied with.
5. Aggrieved assessee preferred an appeal
271B of the Act for
not getting the accounts audited under section 44AB of the Act.
3. The facts in brief are that the assessee ... assessee to get its books of account
audited under section 44AB of the Act which has not been complied with.
6. Aggrieved assessee preferred
getting its accounts audited and has violated
of the provisions of section 44AB of the IT Act 1961.
5. Being aggrieved by the assessment order ... 271B were
correctly initiated for violating the provisions of Section 44AB of the Act.
9. The ld. AR for the assessee submitted that there
which exceed
the limit as per the provisions of Section 44AB of the Act. The A.O.
issued a show cause notice for levying penalty ... considered the above submissions and held that
Section 44AB (a) talks of total sales, turnover or gross receipts and
does not distinguish between disclosed
assessment and instead
ought to have seen that the sec.44AB is not attracted in the case of assessee.
3. The CIT(A) failed ... warrant the preparation and filing of audit report as per sec.44AB and
hence confirming the levy of penalty on the pretext that an addition
that the ld CIT(A) in the appellate proceedings took
into consideration 44AB report filed by the assessee in violation of Rule ... Dated Nil.
Comments on the Audit Report u/s 44AB along with P&L A/c
and Balance vis the Assessment Order dated
