06 December 2010
Dear Mr. Sanat Pyne ! Actually the case related to the A. Y. 10-11. Assessee's accounts has not been audited & not filed before 15-10-10( Due Date). it is a matter of Tax Audit since the turnover is around Rs.2 crores. Rs 1laks penalty is for what ? Non audit or not filing of IT Return. If audit has been done before due date & return has not been filed , then what is the Penalty?
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