In the result, appeal of the assessee is allowed
Bench: Shri V. Durga Rao & Shri D.S. Sunder Singh
68,370/-. The AO observed that assessee’s total gross receipts from business were Rs. 58,62,880/- and no audit was done in assessee’s case, as total sales turnover or gross receipts of business exceed Rs. 40 lakshs, the assessee should have got his accounts audited by an Accountant before the specified date in the prescribed form duly