Case Law Details
Case Name : Sagar Dutta Vs DCIT (ITAT Kolkata)
Related Assessment Year : 2006-07
Courts :
All ITAT ITAT Kolkata
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sagar Dutta Vs DCIT (ITAT Kolkata)
Penalty under section 271B justified on Assessee who was Partner in M/s. Price Waterhouse which is a partnership firm for his Failure to get his accounts audited as his remuneration was exceeding the limit specified U/s. 44AB.
We find that in the instant case penalty of Rs.37,080/- was imposed u/s 271B of the Act by the AO as the assessee failed to filed audit report u/s 44AB of the Act along with the return of income. It is not in dispute that the assessee received salary from M/s. Price Waterhouse which is a partnership firm and that the same was assessed ...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
In case of tax audit of firms .There are two partners ,they do firms tax audit,in this case IT refund received for the A.Y 2017-18,This can effect in firms A/c i.e., (Total income U/H Other Income),What my doubt is those two partners are accounted their books and file individual returns also ,what ever the IT Refund ineterst can be claimed or not in their individual a/c