https://www.taxtmi.com/caselaws?id=787227 Proviso to Section 44AB raising the audit threshold to ten crore where cash receipts/payments do not exceed five percent was examined; the Tribunal held that a post cutoff Chartered Accountant certificate asserting low cash transactions and turnover below the threshold could not substitute for the statutory requirement to furnish the audit report under Section 44AB(2). Because the assessee did not file the audit report for the relevant year and the CA certificate was produced after the cut off, the Tribunal sustained the penalty under Section 271B for failure to comply with the audit filing obligation. en-us Thu, 26 Feb 2026 00:00:00 +0530 Fri, 27 Feb 2026 14:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787227 Proviso to Section 44AB raising the audit threshold to ten crore where cash receipts/payments do not exceed five percent was examined; the Tribunal held that a post cutoff Chartered Accountant certificate asserting low cash transactions and turnover below the threshold could not substitute for the statutory requirement to furnish the audit report under Section 44AB(2). Because the assessee did not file the audit report for the relevant year and the CA certificate was produced after the cut off, the Tribunal sustained the penalty under Section 271B for failure to comply with the audit filing obligation. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787227