https://www.taxtmi.com/caselaws?id=307414 The ITAT Jaipur allowed the appeal, condoning a 6-day delay in filing based on valid reasons provided by the assessee. The penalty under Section 271B for non-audit of accounts was deemed unjustified and deleted, as the ITAT ruled that the penalty cannot be imposed when regular books of accounts are not maintained, citing relevant case laws. Compliance with the Income Tax Act's provisions was emphasized in determining penalties. en-us Wed, 30 May 2018 00:00:00 +0530 Wed, 12 Apr 2023 21:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307414 The ITAT Jaipur allowed the appeal, condoning a 6-day delay in filing based on valid reasons provided by the assessee. The penalty under Section 271B for non-audit of accounts was deemed unjustified and deleted, as the ITAT ruled that the penalty cannot be imposed when regular books of accounts are not maintained, citing relevant case laws. Compliance with the Income Tax Act's provisions was emphasized in determining penalties. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307414