How to File Company Income Tax Return (ITR) Without Company Law Audit

• July 27, 2020
• CA Chandan Agarwal's Office

Facts

A situation arose in which a company could not call its board meeting due to NCLT embargo and other reasons. The auditor was appointed, but balance sheet and financial statements could not be signed as requirement of sec 134 of companies act 2013 was not fulfilled. Section 134 requires a board meeting to take place and approve the accounts which shall be forwarded to auditor.

Problem

The audited approved accounts are not available and therefore income tax return cant be filed. In case of a company having turnover exceeding 2 crore ,Section 44AB of the income tax act require audit report along with audited accounts to be filed along with income tax return. Section 139(9) of the IT Act makes return defective if filed without ITR.

So how to file income tax return of such companies ?