https://www.taxtmi.com/caselaws?id=262014 The ITAT Jaipur allowed the assessee's appeal, ruling that as a commission agent in the sale of stamp papers, the assessee was not liable for audit under Section 44AB. The government's control over the stamps and the nature of the assessee's role led to the deletion of the penalty imposed under Section 271B for non-compliance with the audit requirement. The ITAT held that the assessee's belief that his case did not necessitate an audit was genuine, resulting in a favorable judgment in favor of the assessee. en-us Thu, 29 Jan 2015 00:00:00 +0530 Fri, 25 Dec 2015 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262014 The ITAT Jaipur allowed the assessee's appeal, ruling that as a commission agent in the sale of stamp papers, the assessee was not liable for audit under Section 44AB. The government's control over the stamps and the nature of the assessee's role led to the deletion of the penalty imposed under Section 271B for non-compliance with the audit requirement. The ITAT held that the assessee's belief that his case did not necessitate an audit was genuine, resulting in a favorable judgment in favor of the assessee. Case-Laws Income Tax Thu, 29 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262014