https://www.taxtmi.com/caselaws?id=786896 Where statutory turnover thresholds required maintenance of books and audit, the Tribunal sustained the penalty for failure to maintain books as no reasonable cause or immunity was demonstrated, and rejected the immunity claim; however, the Tribunal set aside a separate penalty for failure to get accounts audited on the ground that imposing both penalties would amount to double punishment for the same omission, producing a mixed outcome with the maintenance penalty confirmed and the audit penalty cancelled. en-us Thu, 19 Feb 2026 00:00:00 +0530 Sat, 21 Feb 2026 09:29:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786896 Where statutory turnover thresholds required maintenance of books and audit, the Tribunal sustained the penalty for failure to maintain books as no reasonable cause or immunity was demonstrated, and rejected the immunity claim; however, the Tribunal set aside a separate penalty for failure to get accounts audited on the ground that imposing both penalties would amount to double punishment for the same omission, producing a mixed outcome with the maintenance penalty confirmed and the audit penalty cancelled. Case-Laws Income Tax Thu, 19 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786896