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Penalty for Failure to get accounts audited cannot be levied if books not maintained
Case Law Details
- Case Name
- Somnath Ghosh Vs ITO (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Kolkata
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Somnath Ghosh Vs ITO (ITAT Kolkata)
AO himself recorded that no books were maintained by the assessee and penalty u/s 271B of the Act is to be imposed when any person fails to get his accounts audited. Admittedly there is no dispute that no books were maintained by the assessee and as rightly argued by the Ld.AR getting the same audited does not arise at all.
In view of the above, we set aside the order of CIT(A) and cancel the penalty imposed by the AO u/s 271B of the Act.
FULL TEXT OF THE ITAT JUDGEMENT
This appeal filed by the assessee against the order dated 31.01.2018 passed by CIT(A)-14...
