https://www.taxtmi.com/caselaws?id=379295 The appeal was allowed, and the penalty imposed under section 271B of the Income Tax Act was deleted. The Tribunal determined that the company was engaged in business activities, not professional activities, and therefore, the turnover did not exceed the limit requiring an audit. Consequently, the penalty was deemed unjustified and removed. en-us Fri, 26 Apr 2019 00:00:00 +0530 Tue, 30 Apr 2019 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379295 The appeal was allowed, and the penalty imposed under section 271B of the Income Tax Act was deleted. The Tribunal determined that the company was engaged in business activities, not professional activities, and therefore, the turnover did not exceed the limit requiring an audit. Consequently, the penalty was deemed unjustified and removed. Case-Laws Income Tax Fri, 26 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379295