Rejection of Books Not Enough to Sustain Section 271A Penalty

Anita Basak Vs ACIT (ITAT Kolkata) Penalty u/s 271A Not Leviable Where Books Are Maintained & Audited – ITAT Kolkata Deletes ₹25,000 Penalty The Kolkata Bench of the ITAT, in Anita Basak vs. ACIT, Central Circle-1(1), Kolkata (ITA No.2174/KOL/2025, AY 2018-19, order dated 19-12-2025), deleted the penalty levied u/s 271A for alleged failure to maintain books of account. In this case, although during a survey u/s 133A the books were found to be not updated, the Tribunal noted that the assessee had in fact maintained books of account, which were also audited u/s 44AB, and the audit report...