Case Law Details
Case Name : Maranaikana Halli Jayashella Shetty Pradeepkumar Vs ACIT (ITAT Bangalore)
Appeal Number : ITA No. 1136/Bang/2022
Date of Judgement/Order : 30/03/2023
Related Assessment Year : 2017-2018
Courts :
All ITAT ITAT Bangalore
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Maranaikana Halli Jayashella Shetty Pradeepkumar Vs ACIT (ITAT Bangalore)
271B Penalty- When the Assessee Has Not Maintained the Books of Account, There Is No Question of Getting the Books of Account Audited U/S 44AB
Assessment was completed u/s 143(3) making additions to the returned income u/s 44AD. AO initiated penalty proceedings u/s 271A & 271B.
Penalty u/s 271B was imposed for the reason that the assessee was required to get his books of account audited and having failed to do the same.
Assessee filed appeal before the CIT(A). As there was no appearance / compliance to the notices issued by e CIT(A), an ex parte order was passed by him confirming the penalty imposed u/s 271B.
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Rachi Tribunal in a recent decision dt 15.05.2023 held that 271A & 271B are independent. 271B Penalty can be levied even when the books of account are not maintained
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