Once penalty for non-maintenance of books is levied then penalty for not getting books audited not leviable

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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