The penalty under section 271B cannot be levied

 The penalty under section 271B cannot be levied

The penalty under section 271B cannot be levied where the assessee because the was unable to substantiate the submission that the assessee is only commission agent because there is no obligation on the part of the assessee to get the accounts audited as he was under the bona-fide belief that it is only commission receipt, which can be considered as turnover for the purpose of section 44AB of the Act. (ITAT Pune, ITA No.677/PUN/2021)



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