Held, dismissing the appeal, that the assessee failed to produce any evidence of filing the audit report before the Commissioner (Appeals) or before the Tribunal, and the assessee had not been able to give any “reasonable cause” for not levying of penalty under section 271B of the Act for failure to audit its account. The penalty is confirmed.(AY. 2013-14)
Space Centre Employees Co-Operative Society Ltd. v. ITO (2023)104 ITR 67 (SN.)(Cochin ) (Trib)
S. 271B :Penalty-Failure to get accounts audited-Failure to show reasonable cause-Levy of penalty is affirmed. [S.44AB]