https://www.taxtmi.com/caselaws?id=779248 ITAT, Delhi held that penalty under s.271A for non-maintenance of books cannot be sustained because the assessee is a local authority whose income is exempt under s.10(46) and is not engaged in business or profession; therefore s.44AA (applicable to persons in business/profession) does not apply. The Tribunal also noted books and financial statements were in fact maintained. The penalty under s.271A was deleted and the assessee's appeal grounds were allowed. en-us Fri, 26 Sep 2025 00:00:00 +0530 Wed, 01 Oct 2025 09:07:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779248 ITAT, Delhi held that penalty under s.271A for non-maintenance of books cannot be sustained because the assessee is a local authority whose income is exempt under s.10(46) and is not engaged in business or profession; therefore s.44AA (applicable to persons in business/profession) does not apply. The Tribunal also noted books and financial statements were in fact maintained. The penalty under s.271A was deleted and the assessee's appeal grounds were allowed. Case-Laws Income Tax Fri, 26 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779248