https://www.taxtmi.com/highlights?id=71487 Penalty u/s 271B - non-compliance of getting accounts audited u/s. 44AB - Ostensibly, the assessee was under bona fide belief that the advance are not turnover, which was a right contention, according to project completion method of accounting. No deliberate act or defiance of law or guilty conduct was observed - No penalty - AT en-us Wed, 16 Aug 2023 17:00:47 +0530 Thu, 17 Aug 2023 14:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71487 Penalty u/s 271B - non-compliance of getting accounts audited u/s. 44AB - Ostensibly, the assessee was under bona fide belief that the advance are not turnover, which was a right contention, according to project completion method of accounting. No deliberate act or defiance of law or guilty conduct was observed - No penalty - AT Highlights Income Tax Wed, 16 Aug 2023 17:00:47 +0530 https://www.taxtmi.com/highlights?id=71487