https://www.taxtmi.com/caselaws?id=394351 The Appellate Tribunal ITAT Jaipur upheld the penalty of Rs. 25,000 under section 271A for Assessment Year 2011-12, as the assessee failed to maintain books of account despite gross receipts exceeding Rs. 10 lakhs. However, the penalty of Rs. 1,50,000 under section 271B for the same assessment year was overturned, as the appellant's turnover discrepancy lacked supporting evidence and the non-delivery based turnover claim was unsubstantiated. The Tribunal referenced a similar case where the penalty under section 271B was deleted due to non-maintenance of books of accounts. The judgment was pronounced on 23/01/2020. en-us Thu, 23 Jan 2020 00:00:00 +0530 Thu, 09 Apr 2020 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394351 The Appellate Tribunal ITAT Jaipur upheld the penalty of Rs. 25,000 under section 271A for Assessment Year 2011-12, as the assessee failed to maintain books of account despite gross receipts exceeding Rs. 10 lakhs. However, the penalty of Rs. 1,50,000 under section 271B for the same assessment year was overturned, as the appellant's turnover discrepancy lacked supporting evidence and the non-delivery based turnover claim was unsubstantiated. The Tribunal referenced a similar case where the penalty under section 271B was deleted due to non-maintenance of books of accounts. The judgment was pronounced on 23/01/2020. Case-Laws Income Tax Thu, 23 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394351