Audit u/s. 44AB
This query is : Resolved
06 October 2010
Mr. X was liable to Tax Audit u/s. 44AB in a particular A.Y. But he faild to got his accounts audited in time and hence he has to pay penalty accordingly. Now, at the time of scrutiny assessment can assessing officer insisted upon to get the accounts audited though assessee has pay the penalty for non fulfilment of audit requirement?
06 October 2010
The penalty was paid for non-fulfilment of time bound liability.
But in my opinion, by paying the penalty, the liability of tax audit does not gets absolved, hence the AO has every right to ask for the same.
But in my opinion, by paying the penalty, the liability of tax audit does not gets absolved, hence the AO has every right to ask for the same.
Message likes :
1 times
06 October 2010
This is my opinion.
Other views are welcome.... hence kept open....
Other views are welcome.... hence kept open....
06 October 2010
Agreed with CMA Subhash...
Regards!!!
Dinesh S. Adhikari
Regards!!!
Dinesh S. Adhikari
11 October 2010
Penalty is for dealy but not to forgive
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