https://www.taxtmi.com/caselaws?id=71098 The tribunal ruled in favor of the assessee, canceling the penalty imposed under section 271B of the Act for failure to audit accounts as per section 44AB. It found that the use of a mobile crane for loading and unloading iron steel did not constitute civil construction, and therefore, the assessee was not required to undergo audit as claimed by the Assessing Officer. The tribunal emphasized the specific scope of section 44AD for civil construction businesses and concluded that the assessee had a reasonable cause for not auditing accounts, thereby canceling the penalty. en-us Wed, 14 Feb 2007 00:00:00 +0530 Thu, 21 Apr 2011 13:18:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71098 The tribunal ruled in favor of the assessee, canceling the penalty imposed under section 271B of the Act for failure to audit accounts as per section 44AB. It found that the use of a mobile crane for loading and unloading iron steel did not constitute civil construction, and therefore, the assessee was not required to undergo audit as claimed by the Assessing Officer. The tribunal emphasized the specific scope of section 44AD for civil construction businesses and concluded that the assessee had a reasonable cause for not auditing accounts, thereby canceling the penalty. Case-Laws Income Tax Wed, 14 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71098