https://www.taxtmi.com/caselaws?id=780760 ITAT (Delhi-AT) deleted penalties under s.271A and s.271B. The tribunal found the assessee had not maintained or audited books as required by s.44AA/read with rule 6F, but accepted the assessee's reasonable cause-first-time levy and no evidence of deliberate defiance or dishonest conduct-and therefore vacated the s.271A penalty and granted consequential relief. The tribunal further held that once books are found not maintained, s.271B (audit-related) penalty is not leviable, and therefore deleted that penalty as well, while directing future compliance with s.44AA. en-us Thu, 30 Oct 2025 00:00:00 +0530 Fri, 31 Oct 2025 16:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780760 ITAT (Delhi-AT) deleted penalties under s.271A and s.271B. The tribunal found the assessee had not maintained or audited books as required by s.44AA/read with rule 6F, but accepted the assessee's reasonable cause-first-time levy and no evidence of deliberate defiance or dishonest conduct-and therefore vacated the s.271A penalty and granted consequential relief. The tribunal further held that once books are found not maintained, s.271B (audit-related) penalty is not leviable, and therefore deleted that penalty as well, while directing future compliance with s.44AA. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780760