Can penalty u/s 271b imposed for nonaudit of partial turnove
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2011
My client is subjected to IT scrutiny.. He has audited his accounts for 1 business and filed the same..
But during the course of scrutiny, the ITO detected another business for which the assesse concealed.
Now the ITO is proposing penalty u/s 271B for the 2 business TO for non audit of accounts..
Is it right?
How can I safegaurd him from this penalty..
Please guide me ,
Thanks in anticipation..
But during the course of scrutiny, the ITO detected another business for which the assesse concealed.
Now the ITO is proposing penalty u/s 271B for the 2 business TO for non audit of accounts..
Is it right?
How can I safegaurd him from this penalty..
Please guide me ,
Thanks in anticipation..
15 December 2011
Penalty u/s 271B can be imposed only for the non-audited business.
Karnataka High Court decision in CIT V Dr.K.Satish Shetty can be cited.
Karnataka High Court decision in CIT V Dr.K.Satish Shetty can be cited.
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