https://www.taxtmi.com/caselaws?id=331474 The Tribunal allowed the appeal of the assessee, quashing the penalty imposed under section 271B. It held that the assessee, not being a professionally qualified medical doctor but running a pathological laboratory, did not meet the criteria for professional receipts under section 44AB. The Tribunal found the penalty unjustified due to the nature of receipts categorized as business receipts and the absence of a professional qualification, emphasizing the failure of the Commissioner of Income-tax (Appeals) to address material issues raised by the assessee. en-us Mon, 16 May 2016 00:00:00 +0530 Wed, 24 Aug 2016 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331474 The Tribunal allowed the appeal of the assessee, quashing the penalty imposed under section 271B. It held that the assessee, not being a professionally qualified medical doctor but running a pathological laboratory, did not meet the criteria for professional receipts under section 44AB. The Tribunal found the penalty unjustified due to the nature of receipts categorized as business receipts and the absence of a professional qualification, emphasizing the failure of the Commissioner of Income-tax (Appeals) to address material issues raised by the assessee. Case-Laws Income Tax Mon, 16 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331474