https://www.taxtmi.com/highlights?id=34972 Penalty u/s 271BA - non-filing of audit report in Form 3CEB - international transactions - the expression "May" used in section 271BA needs to be viewed liberally - in view of the reasoning given by the assessee due to bonafide mistaken understanding of provisions contained in section 139D(c) which itself would determine reasonable cause in terms of section 273B - no penalty - AT en-us Thu, 25 May 2017 11:20:46 +0530 Thu, 25 May 2017 11:20:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=34972 Penalty u/s 271BA - non-filing of audit report in Form 3CEB - international transactions - the expression "May" used in section 271BA needs to be viewed liberally - in view of the reasoning given by the assessee due to bonafide mistaken understanding of provisions contained in section 139D(c) which itself would determine reasonable cause in terms of section 273B - no penalty - AT Highlights Income Tax Thu, 25 May 2017 11:20:46 +0530 https://www.taxtmi.com/highlights?id=34972