https://www.taxtmi.com/caselaws?id=312474 HC allowed writ petition challenging rejection of petitioner firm's bid for agricultural produce transporter registration. Respondents denied empanelment citing lack of audited balance-sheets for three years despite firm meeting Rs. 1.5 crore turnover requirement. Court held audit requirement under Section 44AB Income Tax Act, 1961 applies only when turnover exceeds Rs. 1 crore in any year. Procuring authority cannot impose audit conditions beyond statutory requirements. Rejection deemed arbitrary and illegal. Respondents directed to reconsider bid without requiring audited balance-sheets. en-us Tue, 27 Nov 2018 00:00:00 +0530 Tue, 20 Feb 2024 17:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312474 HC allowed writ petition challenging rejection of petitioner firm's bid for agricultural produce transporter registration. Respondents denied empanelment citing lack of audited balance-sheets for three years despite firm meeting Rs. 1.5 crore turnover requirement. Court held audit requirement under Section 44AB Income Tax Act, 1961 applies only when turnover exceeds Rs. 1 crore in any year. Procuring authority cannot impose audit conditions beyond statutory requirements. Rejection deemed arbitrary and illegal. Respondents directed to reconsider bid without requiring audited balance-sheets. Case-Laws Indian Laws Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312474