https://www.taxtmi.com/caselaws?id=62718 Penalty under section 271A was held unsustainable where a business assessee had furnished computation of income, statements of affairs, and details of assets and liabilities sufficient to enable computation of taxable income. The commentary notes that section 44AA requires maintenance of books and documents enabling assessment of total income, but the prescribed rules for business assessees had not been framed, while Rule 6F applied only to professionals. On those facts, the alleged failure to maintain books was not established, and the penalty was cancelled for both years. en-us Thu, 21 Nov 1996 00:00:00 +0530 Fri, 21 Jan 2011 12:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62718 Penalty under section 271A was held unsustainable where a business assessee had furnished computation of income, statements of affairs, and details of assets and liabilities sufficient to enable computation of taxable income. The commentary notes that section 44AA requires maintenance of books and documents enabling assessment of total income, but the prescribed rules for business assessees had not been framed, while Rule 6F applied only to professionals. On those facts, the alleged failure to maintain books was not established, and the penalty was cancelled for both years. Case-Laws Income Tax Thu, 21 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62718