https://www.taxtmi.com/highlights?id=73291 Penalty u/s 271B - not getting the books of account audited u/s 44AB - AO levied penalty on the assessee as the cash deposit during the F.Y. 2016-17 exceeded the threshold limit u/s 44AB of the Act, treating the same as turnover of the assessee, though he is only an agent who provided services for the Principal. - the provisions of section 273B of the Act applies to the case of the assessee since the assessee has a reasonable cause for not getting the books of account audited - No penalty - AT en-us Wed, 29 Nov 2023 07:32:18 +0530 Wed, 29 Nov 2023 18:55:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73291 Penalty u/s 271B - not getting the books of account audited u/s 44AB - AO levied penalty on the assessee as the cash deposit during the F.Y. 2016-17 exceeded the threshold limit u/s 44AB of the Act, treating the same as turnover of the assessee, though he is only an agent who provided services for the Principal. - the provisions of section 273B of the Act applies to the case of the assessee since the assessee has a reasonable cause for not getting the books of account audited - No penalty - AT Highlights Income Tax Wed, 29 Nov 2023 07:32:18 +0530 https://www.taxtmi.com/highlights?id=73291