https://www.taxtmi.com/caselaws?id=68636 The Tribunal canceled the penalty imposed under section 271B on the appellant, a medical practitioner, for not getting his accounts audited under section 44AB of the Act. The Tribunal recognized the appellant's distinct types of receipts and reliance on legal advice as reasonable causes for not obtaining the audit report. It concluded that the appellant acted in good faith, supported by the advocate's affidavit, and that the issue regarding the nature of receipts was debatable. Therefore, the appeal was allowed, and no penalty was imposed under section 271B. en-us Fri, 25 Aug 2006 00:00:00 +0530 Thu, 31 Mar 2011 14:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68636 The Tribunal canceled the penalty imposed under section 271B on the appellant, a medical practitioner, for not getting his accounts audited under section 44AB of the Act. The Tribunal recognized the appellant's distinct types of receipts and reliance on legal advice as reasonable causes for not obtaining the audit report. It concluded that the appellant acted in good faith, supported by the advocate's affidavit, and that the issue regarding the nature of receipts was debatable. Therefore, the appeal was allowed, and no penalty was imposed under section 271B. Case-Laws Income Tax Fri, 25 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68636