Case Law Details
Case Name : Jyoti Paper Udyog Ltd Vs ACIT (ITAT Pune)
Related Assessment Year : 2013-14
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Jyoti Paper Udyog Ltd Vs ACIT (ITAT Pune)
Introduction: The Jyoti Paper Udyog Ltd Vs. ACIT case involved a penalty imposed under Section 271AA of the Income Tax Act, 1961, for non-compliance with the requirements of Section 92D of the Act. The dispute emerged from the assessment year 2013-14 and focused on the failure to provide an audit report in Form No. 3CEB as mandated by Section 92E.
Detailed Analysis: The case revolved around the assessment of the audit report submitted by the assessee. The Assessing Officer (AO) noted that the assessee had reported transactions exceeding Rs. 5 crores, f...
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Ignorance of aw id no excuse. This is the plea which have been quoted when there is non compliance. Why this has been desregarded . If that is the case people shall get this opinion in the back date and wiould like to avoid penalties.