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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
