https://www.taxtmi.com/caselaws?id=472569 Section 44AB tax-audit requirement applies only to persons carrying on business or profession. A registered charitable educational society claiming exemption under Section 11 on the basis of Section 12A registration, with no business activity or computation of business or professional profits, falls outside that requirement. Subsequent disallowance of the charitable exemption does not retrospectively create a tax-audit obligation while the registration remains operative. Consequently, penalty under Section 271B for failure to obtain a tax audit is not leviable; the society's bona fide belief in the inapplicability of Section 44AB also supports that result. en-us Thu, 25 Jan 2018 00:00:00 +0530 Fri, 16 Oct 2026 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472569 Section 44AB tax-audit requirement applies only to persons carrying on business or profession. A registered charitable educational society claiming exemption under Section 11 on the basis of Section 12A registration, with no business activity or computation of business or professional profits, falls outside that requirement. Subsequent disallowance of the charitable exemption does not retrospectively create a tax-audit obligation while the registration remains operative. Consequently, penalty under Section 271B for failure to obtain a tax audit is not leviable; the society's bona fide belief in the inapplicability of Section 44AB also supports that result. Case-Laws Income Tax Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472569