https://www.taxtmi.com/caselaws?id=151770 Penalty under section 271A could not be sustained where an assessee covered by section 44AA(2) had maintained cash book, ledger, and purchase and sale vouchers, but not a stock register. Rule 6F applies to persons falling under section 44AA(1) and does not extend to business assessees governed by section 44AA(2). Because the statute and applicable rules did not prescribe specific books of account for the relevant year, and the maintained records enabled computation of income, the omission to keep a stock register did not attract penalty. Relief was therefore available to the assessee. en-us Fri, 06 Jul 2007 00:00:00 +0530 Sat, 15 Jun 2013 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151770 Penalty under section 271A could not be sustained where an assessee covered by section 44AA(2) had maintained cash book, ledger, and purchase and sale vouchers, but not a stock register. Rule 6F applies to persons falling under section 44AA(1) and does not extend to business assessees governed by section 44AA(2). Because the statute and applicable rules did not prescribe specific books of account for the relevant year, and the maintained records enabled computation of income, the omission to keep a stock register did not attract penalty. Relief was therefore available to the assessee. Case-Laws Income Tax Fri, 06 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151770