No need to get Accounts Audited when Gross Business Receipts is less than Rs.1.00 Crore as prescribed u/s 44AB: ITAT allows Appeal by Treating ITR as Valid [Read Order]

By Sunayana Dhal - On December 2, 2023 10:30 am - 2 mins read

Accounts Audited - Gross Business Receipts - Business Receipts - ITAT allows Appeal by Treating ITR as Valid - Income Tax Appellate Tribunal - Income Tax return - TAXSCAN

The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee by treating the Income Tax return (ITR) as valid and held that there is no need to audit the accounts when the gross business receipts are less than the threshold limit of Rs.1.00 Crore as prescribed under Section 44AB…

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