ITAT Pune Upholds Section 271B Penalty for Failure to File Audit Report

Santosh Swarupchand Vs ITO (ITAT Pune)

In the case of Santosh Swarupchand vs. ITO, it was established that the assessee had maintained books of accounts for the relevant year. However, the assessee claimed that the books were given to an accountant, Mr. Mahesh Kadam, who was unable to complete the accounting. The affidavit provided by Mr. Kadam, which was submitted after the assessment proceedings, indicated that he was not a qualified Chartered Accountant. According to Section 288 of the Income Tax Act, only a qualified Chartered Accountant is permitte

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