https://www.taxtmi.com/caselaws?id=797301 Penalty for failure to obtain a tax audit was not sustainable where GST was accounted for separately as a liability under the exclusive method and the taxpayer reasonably believed it was excluded from turnover for the tax-audit threshold. ICAI guidance recognises that no turnover adjustment is needed where tax is included in the sale price. Differing views on GST inclusion, coupled with the absence of deliberate, knowing, mala fide or contumacious non-compliance, established reasonable cause. The penalty was therefore directed to be deleted. en-us Wed, 12 Aug 2026 00:00:00 +0530 Thu, 20 Aug 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797301 Penalty for failure to obtain a tax audit was not sustainable where GST was accounted for separately as a liability under the exclusive method and the taxpayer reasonably believed it was excluded from turnover for the tax-audit threshold. ICAI guidance recognises that no turnover adjustment is needed where tax is included in the sale price. Differing views on GST inclusion, coupled with the absence of deliberate, knowing, mala fide or contumacious non-compliance, established reasonable cause. The penalty was therefore directed to be deleted. Case-Laws Income Tax Wed, 12 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797301