caught within the mischief of Section 273B and, therefore, not liable for any penalty under Section 271B .
7. We have heard the rival submissions made ... inactive in complying with the provisions of Section 44AB for which he is penalised under Section 271B . We agree with the learned counsel
required u/s 44AB of the Act. Therefore, the assessee violated the provisions of
the said Act,as such, penalty proceedings u/s 271B ... assessee fails to get the account audited u/s
44AB then penalty u/s 271B will be imposed on the assessee, a sum equal
some proceedings, limitation
prescribed under section 275 would not be applicable to order passed
under section 271B . Hence, ground no. 1 of the appeal ... offence as contemplated by section 44AB and therefore, in the instant
case, imposition of penalty under section 271B was erroneous on account
of violation
some proceedings, limitation
prescribed under section 275 would not be applicable to order passed
under section 271B . Hence, ground no. 1 of the appeal ... offence as contemplated by section 44AB and therefore, in the instant
case, imposition of penalty under section 271B was erroneous on account
of violation
account audited before the due date as required by section 44AB ,
penalty proceedings under section 271B of the Act were initiated ... that a penalty u/s 271B would be imposable.
Section 44AB , read with section 271B of the Income-tax Act, 1961 - Tax
audit (Penalty) - Assessment
Assessing Officer,
therefore, initiated penalty proceedings under section 271B of the Act. In
reply to the show-cause notice issued during the course of said ... penalty imposed by the Assessing officer under section 271B of
the Act was challenged by the assessee in the appeal before
passed u/s. 143(3) of the Act.
5. Thereafter, the AO initiated penalty proceeding u/s. 271B of the Act
for not getting ... referred.
The provision of Section 271B of the I.T. Act is reproduced below:
"If any person fails to get his accounts audited
whole situation is that both the provisions,
i.e., section 44AB along with section 271B and section 139(9) can be
read together ... constitutional validity
of section 44AB that the workability of section 44AB together
with section 139(9)(e) and section 271B together was considered
appellant-firm to comply with the provisions of Section 44AB within the meaning of Section 271B read with Section 273B of the Act and that ... complying with the provisions of Section 44AB of the Act within the meaning of Section 271B of the Act. Accordingly I cancel the penalty
return within due as specified u/s. 139(1) of the Act.
Accordingly, Assessing Officer issued notice u/s. 271B of the Act dated ... audit as specified under section 44AB of
the Act viz-a-viz the provisions of section 271B of the Act. The ld. AR cannot
simply
