ITAT delete Section 271A Penalty: AO Fails to Prove Appellant’s Business Mandating Books under Section 44AA

Amey Pravinbhai Brahmbhatt Vs ITO (ITAT Ahmedabad) Introduction: The case of Amey Pravinbhai Brahmbhatt Vs ITO at ITAT Ahmedabad involves the deletion of penalty under section 271A of the Income Tax Act for the failure to fulfill conditions specified in section 44AA. This article provides a detailed analysis of the case, focusing on the grounds of appeal, relevant sections, and the rationale behind ITAT’s decision. Detailed Analysis: The appellant contested the penalty imposed by the Assessing Officer (AO) under section 271A for non-maintenance of books of accounts as required by section...