https://www.taxtmi.com/caselaws?id=308086 A commission agent's bank deposits could not be treated as its turnover for attracting the audit requirement under section 44AB where the assessee only earned commission on milk product sales. On those facts, the assessee was not liable to tax audit, so the foundation for penalty under section 271B failed. The penalty was therefore held unsustainable and deleted in favour of the assessee. en-us Fri, 03 Mar 2023 00:00:00 +0530 Tue, 30 May 2023 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308086 A commission agent's bank deposits could not be treated as its turnover for attracting the audit requirement under section 44AB where the assessee only earned commission on milk product sales. On those facts, the assessee was not liable to tax audit, so the foundation for penalty under section 271B failed. The penalty was therefore held unsustainable and deleted in favour of the assessee. Case-Laws Income Tax Fri, 03 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308086