https://www.taxtmi.com/caselaws?id=220128 Speculative online commodity trading settled only by price differences, with no delivery of goods, was treated as not generating turnover in the legal sense for section 44AB audit purposes. On that basis, the assessee was not required to get accounts audited within the specified threshold, and the penalty under section 271B for failure to do so was held not to apply and was deleted. en-us Thu, 22 Nov 2012 00:00:00 +0530 Sat, 12 Jan 2013 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220128 Speculative online commodity trading settled only by price differences, with no delivery of goods, was treated as not generating turnover in the legal sense for section 44AB audit purposes. On that basis, the assessee was not required to get accounts audited within the specified threshold, and the penalty under section 271B for failure to do so was held not to apply and was deleted. Case-Laws Income Tax Thu, 22 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220128