https://www.taxtmi.com/highlights?id=72003 Penalty levied u/s 271B - not getting the audit u/s 44AB - appellant is a Charitable Trust - the addition made by the Ld AO u/s 37(1) was accepted by the appellant, thus, also accepted the fact that the assessee has income from business and profession. Moreover, to fit into the definition of ‘Charitable purpose’ as per section 2(15) of the Act, the appellant was required to fulfill certain prescribed conditions. - Levy of penalty confirmed - AT en-us Thu, 14 Sep 2023 12:52:50 +0530 Thu, 14 Sep 2023 12:52:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72003 Penalty levied u/s 271B - not getting the audit u/s 44AB - appellant is a Charitable Trust - the addition made by the Ld AO u/s 37(1) was accepted by the appellant, thus, also accepted the fact that the assessee has income from business and profession. Moreover, to fit into the definition of ‘Charitable purpose’ as per section 2(15) of the Act, the appellant was required to fulfill certain prescribed conditions. - Levy of penalty confirmed - AT Highlights Income Tax Thu, 14 Sep 2023 12:52:50 +0530 https://www.taxtmi.com/highlights?id=72003