ITAT Hyderabad: Ignorance of Law Concerning Compulsory Audit Not Reasonable for Deleting Penalty - 21.04.2022

Income Tax Appellate Tribunal, Hyderabad has held that mere ignorance of law under Section 44AB of the Income Tax Act, 1961 for compulsory audit of accounts, can’t be said to be a reasonable cause under Section 273B of the Act for deleting the penalty for failure to audit accounts.

Tags : Income Tax Appellate Tribunal ignorance of law Section 44AB of the Income Tax Act 1961 Section 273B

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