18 August 2009
"A" maintaining books of a/c u/s 44AA, total sales are Rs. 39 Lakhs and purchases are of Rs. 51 Lakhs. Does he require to get his a/cs audited u/s 44AB. please tell me the legal position with any case law. Can Assessing Officer levy penalty for non audit of a/cs u.s 271B, if the audit the a/cs has not been made.
18 August 2009
Yes u are liable for 44AB Audit. Because Turnover Means Purchase or Sale Anything not only Sale. so u r liable for Audit and if u don't do then 44ab penalty is leviable
19 August 2009
Thankyou, but your reply is neither convincing nor supported by any concrete evidance. Please support with some solid law cases to fight agaisnt the penalty imposed before the appellate authority. Thanks again.
19 August 2009
Thankyou, but your reply is neither convincing nor supported by any concrete evidance. Please support with some solid law cases to fight agaisnt the penalty imposed before the appellate authority. Thanks again
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