https://www.taxtmi.com/caselaws?id=342216 The Tribunal upheld the penalty of Rs. 1,00,000/- under Section 271BA for the assessee's failure to file the Audit Report in Form 3CEB as mandated by Section 92E. The Tribunal emphasized that share investments fall within the scope of Section 92E, and the failure to furnish the audit report without reasonable cause justified the penalty. The Tribunal distinguished a previous case cited by the assessee, stating it was factually different and not relevant to the penalty issue. en-us Wed, 26 Apr 2017 00:00:00 +0530 Sat, 29 Apr 2017 10:10:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342216 The Tribunal upheld the penalty of Rs. 1,00,000/- under Section 271BA for the assessee's failure to file the Audit Report in Form 3CEB as mandated by Section 92E. The Tribunal emphasized that share investments fall within the scope of Section 92E, and the failure to furnish the audit report without reasonable cause justified the penalty. The Tribunal distinguished a previous case cited by the assessee, stating it was factually different and not relevant to the penalty issue. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342216