RAKESH KUMAR AGARWAL,JAIPUR vs. INCOME TAX OFFICER, WARD 4(4), JAIPUR, JAIPUR

ITA 330/JPR/2022Status: DisposedITAT Jaipur06 March 2023AY 2012-2013Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)22 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that if an assessee fails to maintain books of accounts, the default under Section 44AA is complete. Therefore, a subsequent default for not getting the non-existent books audited under Section 44AB cannot attract a penalty under Section 271B.

What were the facts?

The assessee failed to maintain books of accounts and get them audited as required under Sections 44AA and 44AB of the Income Tax Act. Consequently, a penalty was levied under Section 271B for non-compliance with Section 44AB.

What were the issues?

Whether penalty under Section 271B is leviable for non-maintenance of books of accounts, or if it applies only to non-compliance with the audit requirement when books are maintained.

Which sections of the Income-tax Act were involved?

Section 44AA,Section 44AB,Section 271A,Section 271B

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Cases cited in this judgment(9)Show list

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”SMC” JAIPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. No. 330/JP/2022

For Appellant: Shri Vishal Gupta (C.A.) jktLo dh vksj ls@
Hearing: 02/03/2023Pronounced: 06/03/2023

PER: RATHOD KAMLESH JAYANTBHAI, AM This appeal is filed by assessee and is arising out of the order of the National Faceless Appeal Centre, Delhi dated 29/06/2022 [here in after (NFAC)/ ld. CIT(A) ] for assessment year 2012-13 which in turn arise from the order of the penalty passed u/s. 271B of the Act dated 06.01.2022 by the National Faceless Center, Delhi [ here in after th

The order continues below.

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