2026 (9) TMI 382

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....Haladkar ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : The captioned appeal at the instance of assessee pertaining to A.Y.2017-18 is against the order dated 13.11.2025 framed by National Faceless Appeal Centre, Delhi passed u/s. 250 of the Income Tax Act, 1961 (in short 'the Act) arising out of Penalty order dated 25.01.2022 passed u/s. 271B of the Act. 2. The only grievance of the a....

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....ments indicate that the turnover of the assessee exceeds the limit prescribed u/s. 44AB of the Act, therefore the assessee is required to get the books of account audited u/s. 44AB of the Act and in absence thereof initiated penalty proceedings u/s. 271B of the Act and levied the penalty at Rs. 1.50 lakh. Assessee subsequently failed to get any relief in the appeal before the ld.CIT(A). 4. We h....