High Court Rules Audit Report Filing u/s 271B Directory, Not Mandatory; Penalty Waived for Unintentional Delay. https://www.taxtmi.com/highlights?id=22067 Penalty u/s 271B - Filing of audit report is not mandatory and it is directory - The retention of seized/impounded books of accounts and documents is evidenced - delay was not intentional - penalty waived - HC en-us Wed, 11 Mar 2015 06:47:31 +0530 Wed, 11 Mar 2015 06:47:31 +0530 TaxTMI RSS Generator High Court Rules Audit Report Filing u/s 271B Directory, Not Mandatory; Penalty Waived for Unintentional Delay. https://www.taxtmi.com/highlights?id=22067 Penalty u/s 271B - Filing of audit report is not mandatory and it is directory - The retention of seized/impounded books of accounts and documents is evidenced - delay was not intentional - penalty waived - HC Highlights Income Tax Wed, 11 Mar 2015 06:47:31 +0530 https://www.taxtmi.com/highlights?id=22067