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Section 19 in The Finance Act, 2017 19. Amendment of section 44AA. - In section 44AA of the Income-tax Act, in sub-section

section, if he keeps and maintains such books of account and other documents as required under sub-section (2) of section 44AA and gets ... books of account and other documents as required under sub-section(2) of section 44AA of the IT Act. (2) The appellant shall

U/s 271A and 271B of the Act for not maintaining books of account and not getting them audited as per provisions of Section 44AA ... imposition of penalty under the provision contained in section 271A for alleged non-compliance with section 44AA may arise but the provisions of section 44AB

income with reference to such books and, therefore, requirements of sec. 44AA of the Act was satisfied, was not acceptable because to accept such contention ... also total taxable income. Therefore, the statutory prescription contained in sec. 44AA of the Act, had not been satisfied. Consequently, the appellant had defaulted

Assessing Officer initiated penalty proceedings under section 271A of the Act separately for violation of provisions of Section 44AA of the Income ... file reply to the same. The Assessing Officer reproduced Section 44AA of the Act in the penalty order and noted that in the case

income as provided in section 44 AA- of the Act. As discussed above, the assessee violated the provisions of section 44AA . Therefore penalty proceeding ... provided in- section 144 of the Act considering the material available on records. 12. A fresh notice under section 274 read with section 271A

section, if he keeps and maintains such books of account and other documents as required under sub-section (2) of section 44AA and gets ... section (3) of section 143 and determine the sum payable by, or refundable to, the assessee." 6. Under sub-section (1) of section 44BBB

section 271A of the income tax act, if any person fails to maintain the books of accounts as required u/s 44AA of the income ... section 271A of the IT Act. The threshold limit of the turnover for maintaining the books of accounts is Rs. 10 lacs u/s 44AA

required to maintain books of accounts as per Section 44AA of the Act as commodity profit derived was sort of windfall gain and more ... required to maintain books of accounts in terms of Section 44AA of the Act for the reason stated hereinabove. Hence the present case, according

books of account and other documents as required under sub-section (2) of section 44AA and get them audited and furnish a report of such ... person carrying on profession as referred to in sub- section (1) of section 44AA ; (ii) a person earning income in the nature of commission