https://www.taxtmi.com/caselaws?id=70653 The Tribunal held that no penalty was imposable under Section 271B as there was no legislative obligation for the assessee to furnish the audit report within the time stipulated under Section 139(1) for the assessment year 1993-94. Consequently, the penalty imposed under Section 271B was deleted, and the appeal was allowed. en-us Tue, 08 Sep 1998 00:00:00 +0530 Mon, 18 Apr 2011 13:12:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70653 The Tribunal held that no penalty was imposable under Section 271B as there was no legislative obligation for the assessee to furnish the audit report within the time stipulated under Section 139(1) for the assessment year 1993-94. Consequently, the penalty imposed under Section 271B was deleted, and the appeal was allowed. Case-Laws Income Tax Tue, 08 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70653