Books of Account not Liable to be Audited when Turnover of Business less than Threshold Limit u/s 44AB of Income Tax Act: ITAT deletes Penalty [Read Order]

By Shabna Rahim - On June 13, 2023 10:00 pm - 2 mins read
Books of Account not Liable to be Audited when Turnover of Business less than Threshold Limit - Books of Account - Income Tax Act - ITAT - Penalty - Taxscan

The Surat bench of the Income Tax Appellate Tribunal (ITAT) held that the books of Account were not liable to be audited when the turnover of the business is less than the threshold limit under section 44AB of the Income Tax Act.  Radheyshyam Bisani, the appellant assessee was an individual and earned income from salary,…

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