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Form No. 26AS Not Equal to Turnover: Penalty u/s 271B Deleted for ₹1.11 Cr
Case Law Details
- Case Name
- Hiraben Rajuhai Bokhiriya Vs ITO (ITAT Rajkot)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Rajkot
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Hiraben Rajuhai Bokhiriya Vs ITO (ITAT Rajkot)
26AS Reflection Not Equal to Turnover – Commission Agent in Transport Business Practice Explained—Audit Not Mandatory for Mere Pass-Through Receipts- Penalty u/s 271B Deleted
Assessee, engaged in arranging trucks, declared income of ₹3,78,830. AO noted gross receipts of ₹1,11,60,365 in 26AS, treated the figure as turnover exceeding the 44AB limit & levied maximum penalty of ₹1,50,000 u/s 271B for failure to furnish audit report. Assessee explained that she was only a commission agent: entire freight received fro...
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