https://www.taxtmi.com/article/detailed?id=193 Circulars on electronic or annexure less returns are only procedural guidance and do not exempt the statutory Tax Audit Report obligation under 44AB or waive penalty exposure under 271B. Because the 2007 circular's language is not a statutory exemption and the 2008 circular does not repeat it, assessors may treat the circulars as non binding. To avoid disputes and penalty proceedings, taxpayers should voluntarily file the Tax Audit Report and, if late, file it with a petition to condone delay explaining reasonable cause and absence of revenue prejudice. en-us Fri, 10 Oct 2008 00:00:00 +0530 Fri, 10 Oct 2008 09:48:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=193 Circulars on electronic or annexure less returns are only procedural guidance and do not exempt the statutory Tax Audit Report obligation under 44AB or waive penalty exposure under 271B. Because the 2007 circular's language is not a statutory exemption and the 2008 circular does not repeat it, assessors may treat the circulars as non binding. To avoid disputes and penalty proceedings, taxpayers should voluntarily file the Tax Audit Report and, if late, file it with a petition to condone delay explaining reasonable cause and absence of revenue prejudice. Articles Income Tax Fri, 10 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=193