https://www.taxtmi.com/caselaws?id=351614 The Tribunal allowed the appeal, canceling the penalty under section 271B for failure to comply with section 44AB. The Tribunal found the assessee's belief about non-applicability of section 44AB was bona fide, and the method of disclosure followed ICAI guidelines. The penalty imposed by the AO and confirmed by CIT (A) was canceled based on the Tribunal's determination that the assessee did not deliberately avoid compliance with section 44AB. en-us Fri, 22 Sep 2017 00:00:00 +0530 Tue, 28 Nov 2017 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351614 The Tribunal allowed the appeal, canceling the penalty under section 271B for failure to comply with section 44AB. The Tribunal found the assessee's belief about non-applicability of section 44AB was bona fide, and the method of disclosure followed ICAI guidelines. The penalty imposed by the AO and confirmed by CIT (A) was canceled based on the Tribunal's determination that the assessee did not deliberately avoid compliance with section 44AB. Case-Laws Income Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351614