Penalty for maintenance of Books of account
Whether penalty under section 271A of the Income-tax Act, 1961 can be levied where the assessee has maintained books of account which were audited under section 44AB, but the Assessing Officer rejected the books under section 145(3) due to alleged deficiencies and estimated income. Case Citation – ITAT Kolkata Anita Basak v. ACIT, Central Circle-1(1), … Read more