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Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2013
As per books of account of the assessee, turnover for the year was less than 1 crore. But during search operations, an additional sales was found & assessee included the same in block assessment.
Can the assessing officer impose penalty under section 271B for not getting the account audited??
Can the assessing officer impose penalty under section 271B for not getting the account audited??
19 December 2013
Yes thats possible on the AO if he proves that the sales was hidden to escape the audit...
20 December 2013
yes very much. 271B shall apply among others such as 271, 271A..
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