ITAT cancelled penalty under s271B for failure to furnish tax...

ITAT cancelled penalty under s271B for failure to furnish tax audit report under s44AB. Assessee, a first-time taxpayer from remote area, had engaged CA who audited books but failed to upload report. Though assessment was completed under s144, assessee later produced audit report dated 18.09.2017 during CIT(A) proceedings. Considering assessee's remote location, limited access to professional services, first-time tax filing status, and default being attributable to CA's failure rather than willful non-compliance, ITAT held penalty was not warranted. The technical breach occurred due to professional's oversight and lack of proper guidance to a small taxpayer, making it a fit case for penalty cancellation.