AO levied penalty under section 271A for non-maintenance of books of account by assessee. The\u00a0 AO also levied penalty under section 271B due to non-audit of books of account under section 44AB by assessee. CIT(A) affirmed the order of the AO. On appeal the Tribunal held that\u00a0 when the\u00a0 Assessing Officer had levied a penalty under section 271A, which assessee had accepted and paid, consequently, penalty under section 271B could not be imposed for non-auditing of books of account where assessee had failed to maintain same.\u00a0 Accordingly the Assessing Officer\u00a0 is directed to\u00a0 directed to delete penalty.\u00a0 AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 271A : Penalty-Failure to keep maintain-Retain books of accounts-Documents-Audit of accounts-Once penalty is levied for non-maintenance of books of account, no penalty under section 271B can be levied. [S.44AB, 271B] <\/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-48806","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cHc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48806","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=48806"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48806\/revisions"}],"predecessor-version":[{"id":48807,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48806\/revisions\/48807"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=48806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=48806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=48806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}