https://www.taxtmi.com/caselaws?id=313024 The tribunal allowed the assessee's appeal, resulting in the deletion of the penalty under section 271B. The tribunal determined that since the assessee did not maintain any books of accounts, the penalty under section 271B was inappropriate. Instead, the tribunal referenced precedents indicating that when no accounts are maintained, section 271A should apply. en-us Wed, 23 Aug 2023 00:00:00 +0530 Tue, 19 Mar 2024 18:52:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313024 The tribunal allowed the assessee's appeal, resulting in the deletion of the penalty under section 271B. The tribunal determined that since the assessee did not maintain any books of accounts, the penalty under section 271B was inappropriate. Instead, the tribunal referenced precedents indicating that when no accounts are maintained, section 271A should apply. Case-Laws Income Tax Wed, 23 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313024