https://www.taxtmi.com/caselaws?id=418070 The Tribunal upheld the CIT(A)'s decision regarding the addition made by the AO in respect of income from contract receipts. The Tribunal emphasized the validity of the audit report filed by the assessee and highlighted that failure to comply with Sec. 44AB does not render the claim void ab initio, with penalties addressed under Sec. 271B. The Tribunal dismissed the appeal by the Revenue and the cross objection by the assessee, affirming the CIT(A)'s ruling based on the evidence and legal interpretations presented during the proceedings. en-us Tue, 18 Jan 2022 00:00:00 +0530 Tue, 08 Feb 2022 06:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418070 The Tribunal upheld the CIT(A)'s decision regarding the addition made by the AO in respect of income from contract receipts. The Tribunal emphasized the validity of the audit report filed by the assessee and highlighted that failure to comply with Sec. 44AB does not render the claim void ab initio, with penalties addressed under Sec. 271B. The Tribunal dismissed the appeal by the Revenue and the cross objection by the assessee, affirming the CIT(A)'s ruling based on the evidence and legal interpretations presented during the proceedings. Case-Laws Income Tax Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418070