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Case Law Details

Case Name : Bhawani Shankar Gupta Vs ITO (ITAT Jaipur)
Related Assessment Year : 2015-16
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Bhawani Shankar Gupta Vs ITO (ITAT Jaipur)

ITAT Jaipur held that once the penalty is levied for non-maintenance of book of accounts, there cannot be further default for not getting the same audited as required u/s 44AB of the Act.

Facts- During the year, assessee is engaged in the business of trading bangles and other artificial accessories and shown gross receipt of Rs.55,14,602/- and declared net profit u/s 44AD for an amount of Rs.4,42,314/-. During the year, it is found that assessee has also made

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