https://www.taxtmi.com/caselaws?id=326229 The ITAT dismissed the appellant's appeal, affirming the penalty imposed under Section 271B of the Income Tax Act, 1961. The decision was based on the appellant's failure to provide sufficient evidence of timely audit report submission, as required by Section 44AB, and the lack of concrete evidence supporting their claims of reliance on the authorized representative for compliance. The ITAT upheld the CIT(A)'s decision, emphasizing the statutory obligation to submit the audit report before the due date. en-us Fri, 04 Mar 2016 00:00:00 +0530 Sat, 09 Apr 2016 08:05:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326229 The ITAT dismissed the appellant's appeal, affirming the penalty imposed under Section 271B of the Income Tax Act, 1961. The decision was based on the appellant's failure to provide sufficient evidence of timely audit report submission, as required by Section 44AB, and the lack of concrete evidence supporting their claims of reliance on the authorized representative for compliance. The ITAT upheld the CIT(A)'s decision, emphasizing the statutory obligation to submit the audit report before the due date. Case-Laws Income Tax Fri, 04 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326229