https://www.taxtmi.com/caselaws?id=68534 Penalty under section 271B was held not leviable where the audit report required under section 44AB had been obtained before the due date, even though it was furnished later along with a belated return under section 139(4). The governing view applied was that timely obtaining of the audit report satisfied the statutory requirement for the relevant period, and delayed filing of the report with the return did not by itself attract penalty. The cancellation of penalty was therefore sustained in favour of the assessee. en-us Fri, 05 Jan 2001 00:00:00 +0530 Thu, 31 Mar 2011 10:11:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68534 Penalty under section 271B was held not leviable where the audit report required under section 44AB had been obtained before the due date, even though it was furnished later along with a belated return under section 139(4). The governing view applied was that timely obtaining of the audit report satisfied the statutory requirement for the relevant period, and delayed filing of the report with the return did not by itself attract penalty. The cancellation of penalty was therefore sustained in favour of the assessee. Case-Laws Income Tax Fri, 05 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68534