315 results for “penalty u/s 271”+ Section 271Bclear
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In the result, the appeal is partly allowed
Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra
271(1)(c) which has to be initiated in the course of any proceeding, the penalty under section 271B also has to be initiated in the course of any proceeding. The penalty under section 271B relates to not getting the accounts audited under the Act and as the same is not related to the quantum of income assessed