Penalty

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 January 2014 can AO waive penalty if a concern fails to get its statements audited...?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 January 2014 yes if the assessee is able to establish that the mistake was not intentional and purely innocent...please remember penalties are not mandatory and are levied only after giving opportunity to the assessee for presenting his/her case.
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 January 2014 Thank you very much Mr. Nikhil Kaushik
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 January 2014 you are welcome friend....
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