Rakesh Kumar Jha. v. ITO (2023) 201 ITD 565 /224 TTJ 11/ 226 DTR 97 (Ranchi) (Trib.)

S. 271B : Penalty-Failure to get accounts audited-Business of imparting tuition classes-Income is estimated-levy of penalty is affirmed. [S.44AA, 44AB 271A, 271AB]

Assessee, had been running business of imparting tuition classes-Since he failed to get his books of account audited as required under section 44AB, assessment was made on estimation basis and, consequently, Assessing Officer levied penalty under section 271B. Held that since assessee did not get his books of account audited, as per provisions of section 44AB read with section 271B, Assessing Officer rightly levied penalty under section 271B of the Act. (AY. 2008-09)