Penalty u/s 271B for not maintaining books voided as contractor's estimated income was accepted by Assessing Officer.

Penalty u/s 271B for not maintaining books voided as contractor's estimated income was accepted by Assessing Officer. https://www.taxtmi.com/highlights?id=60297 Levy of penalty u/s 271B - violation of section 44AB - assessee has failed to maintain the books of accounts - assessee is a Civil Contractor - the assessee has offered an income on estimate basis and the same is accepted by the A.O. - penalty u/s. 271B imposed by the A.O in this case cannot be sustained. - AT en-us Fri, 29 Oct 2021 05:22:20 +0530 Fri, 29 Oct 2021 05:22:20 +0530 TaxTMI RSS Generator Penalty u/s 271B for not maintaining books voided as contractor's estimated income was accepted by Assessing Officer. https://www.taxtmi.com/highlights?id=60297 Levy of penalty u/s 271B - violation of section 44AB - assessee has failed to maintain the books of accounts - assessee is a Civil Contractor - the assessee has offered an income on estimate basis and the same is accepted by the A.O. - penalty u/s. 271B imposed by the A.O in this case cannot be sustained. - AT Highlights Income Tax Fri, 29 Oct 2021 05:22:20 +0530 https://www.taxtmi.com/highlights?id=60297