https://www.taxtmi.com/caselaws?id=154444 The court upheld the validity and interpretation of Sections 44AB and 271B of the Income-tax Act, dismissing all writ petitions. It stated that these provisions aim to prevent tax evasion and facilitate tax administration. The court clarified that the penalty under Section 271B applies if the audit report is not submitted without reasonable cause. Additionally, it held that the classification based on business turnover exceeding Rs. 40 lakhs and professional receipts exceeding Rs. 10 lakhs is rational and not discriminatory. The court directed that no penalty or interest would be charged if the petitioners file their returns with the audit report within four months from the date of the order. en-us Mon, 14 Apr 1986 00:00:00 +0530 Wed, 21 Aug 2013 14:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=154444 The court upheld the validity and interpretation of Sections 44AB and 271B of the Income-tax Act, dismissing all writ petitions. It stated that these provisions aim to prevent tax evasion and facilitate tax administration. The court clarified that the penalty under Section 271B applies if the audit report is not submitted without reasonable cause. Additionally, it held that the classification based on business turnover exceeding Rs. 40 lakhs and professional receipts exceeding Rs. 10 lakhs is rational and not discriminatory. The court directed that no penalty or interest would be charged if the petitioners file their returns with the audit report within four months from the date of the order. Case-Laws VAT and Sales Tax Mon, 14 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=154444