https://www.taxtmi.com/caselaws?id=310651 The ITAT Mumbai allowed the appeal by the assessee, a stock broker, against a defect notice under section 139(9) of the Income Tax Act, stating it is appealable if it affects liability or refunds. The ITAT directed the return to be processed. Additionally, the ITAT ruled that the assessee's accounts did not require an audit under section 44AB, as the gross business receipts were below the threshold, and quashed the defect notice, instructing the authorities to treat the return as valid for processing. en-us Tue, 20 Jun 2023 00:00:00 +0530 Sat, 04 Nov 2023 09:17:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310651 The ITAT Mumbai allowed the appeal by the assessee, a stock broker, against a defect notice under section 139(9) of the Income Tax Act, stating it is appealable if it affects liability or refunds. The ITAT directed the return to be processed. Additionally, the ITAT ruled that the assessee's accounts did not require an audit under section 44AB, as the gross business receipts were below the threshold, and quashed the defect notice, instructing the authorities to treat the return as valid for processing. Case-Laws Income Tax Tue, 20 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310651