https://www.taxtmi.com/caselaws?id=436433 The Tribunal allowed the appeal, directing the AO to delete the penalty imposed under section 271B of the Income Tax Act, 1961. The decision was based on established legal precedents and the specific circumstances of the case, where the assessee had not maintained the required books of accounts. The Tribunal emphasized that the penalty for not maintaining books of accounts should be considered under section 271A, not section 271B. en-us Wed, 15 Feb 2023 00:00:00 +0530 Wed, 12 Apr 2023 22:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436433 The Tribunal allowed the appeal, directing the AO to delete the penalty imposed under section 271B of the Income Tax Act, 1961. The decision was based on established legal precedents and the specific circumstances of the case, where the assessee had not maintained the required books of accounts. The Tribunal emphasized that the penalty for not maintaining books of accounts should be considered under section 271A, not section 271B. Case-Laws Income Tax Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436433