Wednesday, April 29, 2015

[aaykarbhavan] Value of stamps sold by commission agent wasn’t includible in his turnover to ascertain liabililty for tax audit



Value of stamps sold by commission agent wasn't includible in his turnover to ascertain liabililty for tax audit

April 29, 2015[2015] 55 taxmann.com 291 (Jaipur - Trib.)/[2015] 168 SOT 58 (Jaipur - Trib.)
IT: Where assessee, a licensed vendor for sale of stamps on commission was under a bona fide belief that he was not liable for audit of accounts under section 44AB as per circular No. 452 and ICAI guidelines, penalty under section 271B was not to be imposed
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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