{"id":43328,"date":"2024-06-07T20:12:11","date_gmt":"2024-06-07T14:42:11","guid":{"rendered":"https:\/\/itatonline.org\/digest\/benchmarrk-realty-llp-v-dcit-2023199-itd-511-pune-trib\/"},"modified":"2024-06-07T20:12:11","modified_gmt":"2024-06-07T14:42:11","slug":"benchmarrk-realty-llp-v-dcit-2023199-itd-511-pune-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/benchmarrk-realty-llp-v-dcit-2023199-itd-511-pune-trib\/","title":{"rendered":"Benchmarrk Realty LLP. v. DCIT (2023)199 ITD 511 (Pune) (Trib.)"},"content":{"rendered":"<p>Assessee is\u00a0 in business of construction and development of property and followed percentage completion method of accounting.\u00a0 It had not got its accounts audited and offered explanation that it was under bona fide belief that audit was not required as there was no sale and it had only received advances from customers against bookings. Assessing Officer levied penalty under section 271B\u00a0 for failure to get accounts audited as per section 44AB. Tribunal held that\u00a0 since gross receipts of assessee were more than Rs. One crore, it was under obligation to get account books audited as per section 44AB, accordingly\u00a0 levy of penalty\u00a0 is\u00a0 justified.\u00a0 (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271B :Penalty-Failure to get accounts audited-Builder and developer-Percentage completion of accounts-Gross receipts of were more than Rs. one crore-Levy of penalty is justified.[S.44AB] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43328","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bgQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=43328"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43328\/revisions"}],"predecessor-version":[{"id":43329,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43328\/revisions\/43329"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}