Case Law Details
Case Name : Dr. Shantanu Datta Vs ITO (ITAT Kolkata)
Appeal Number : I.T.A. No. 261/Kol/2017
Date of Judgement/Order : 11/05/2018
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Kolkata
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CA Prarthana Jalan
Hon’ble Kolkata ITAT has deleted penalty u/s 271B in the case of Dr. Shantanu Datta in I.T.A. No. 261/Kol/2017 as there was a bona fide belief entertained by the assessee in the facts and circumstances of the case and the same constituted a reasonable cause for the failure of the assessee to comply with the requirement of section 44AB.
In the case, the appellant was a doctor,deriving income from his two clinics viz. Accutare & Dutta Clinic. The gross receipts of the two clinics of the appellant for the year under consideration were Rs. 53,62,470/- and he, therefore, was required to gets his accounts audited and furnish the report of such audit as per section 44AB of the Act.
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