https://www.taxtmi.com/caselaws?id=61710 The Tribunal upheld the penalty imposed under s. 271B against the appellant for failing to comply with the audit requirements of s. 44AB. It was determined that transportation receipts, including those from sister-concerns, formed part of the total turnover, leading to the penalty imposition. The appellant's argument regarding the exclusion of transportation receipts from turnover was rejected, as the Tribunal found them integral to the turnover calculation. Despite citing case law, the appellant's appeal was dismissed, emphasizing their direct involvement in transportation activities and the mandatory audit threshold being exceeded. en-us Wed, 08 Jun 2005 00:00:00 +0530 Fri, 14 Jan 2011 13:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61710 The Tribunal upheld the penalty imposed under s. 271B against the appellant for failing to comply with the audit requirements of s. 44AB. It was determined that transportation receipts, including those from sister-concerns, formed part of the total turnover, leading to the penalty imposition. The appellant's argument regarding the exclusion of transportation receipts from turnover was rejected, as the Tribunal found them integral to the turnover calculation. Despite citing case law, the appellant's appeal was dismissed, emphasizing their direct involvement in transportation activities and the mandatory audit threshold being exceeded. Case-Laws Income Tax Wed, 08 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61710