Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Levy of penalty u/s 271B - Sufficient / reasonable cause for the delay in filing the tax audit report. - The appellant argued that the delay was due to the late receipt of the audit report from the Joint Registrar. The ITAT, after examining the facts and circumstances, found that the appellant had demonstrated a reasonable cause for the delay, and the penalty imposed by the Revenue was unjustified. As a result, the tribunal allowed the appellant's appeal and directed the deletion of the penalty.
Levy of penalty u/s 271B - Sufficient / reasonable cause for the delay in filing the tax audit report. - The appellant argued that the delay was due to the late receipt of the audit report from the Joint Registrar. The ITAT, after examining the facts and circumstances, found that the appellant had demonstrated a reasonable cause for the delay, and the penalty imposed by the Revenue was unjustified. As a result, the tribunal allowed the appellant's appeal and directed the deletion of the penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
