45 results for “penalty u/s 271”+ Section 27(1)(c)clear
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The appeals of the assessees are disposed of in the terms indicated as above
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
c) That the same facts have been admitted by the AO that the deposits in the bank account are not the turnover of the assessee which is visualized from the fact that the AO has not invoked the penalty u/s 271B i.e. failure to get the accounts audited meaning thereby that the AO has taken into consideration the binding circular