Case Law Details
Case Name : Rakesh Kumar Jha Vs ITO (ITAT Ranchi)
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Ranchi
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Rakesh Kumar Jha Vs ITO (ITAT Ranchi)
Assessee has been running the business of imparting tuition classes. As per the statement of facts furnished by the assessee, assessment was made on estimation basis on account of non-maintenance of books of accounts applying provisions of section 145(3) being 8% of gross receipts u/s 145(3) . Assessee was required to get his books of account audited as required u/s 44AB and on account of failure to do so, the AO levied 271B penalty which was confirmed by CIT(A).
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Author Bio
There are a number of decisions holding that once 271A penalty is levied, further penalty u/s271B cant be levied.