- (1.) HEARD learned counsel for the appellant.
(2.) THESE two appeals were admitted in terms of following questions : '1. Whether, in the facts and circumstances of the case, the Tribunal had erred in cancelling the penalty imposed under Section 271B? 2. Whether, in the facts and circumstances of the case, the Tribunal was right in law when it was proved that the assessee was provided photocopies of the documents by the Department which was sufficient for compliance of the provisions of Section 44AB?' Since common issues are involved in both the appeals, we have heard learned counsel for the appellant and dispose of these appeals by this common order.
(3.) CONSIDERING the business turnover of the assessee -respondent, the assessee -respondent was under obligation to comply with the provisions of Section 44AB of the Act and get all its accounts audited and was required to submit audit report in the prescribed form, along with the returns. That has not been done, therefore, the penalty was initiated under Section 271B of the Act.;