https://www.taxtmi.com/caselaws?id=344115 The ITAT ruled in favor of the appellant, deleting the penalty imposed under Section 271B read with Section 274 of the Income Tax Act for the assessment year 2013-14. The ITAT considered previous decisions where penalties were deleted due to technical issues beyond the assessee's control, emphasizing that the audit report aided assessment proceedings and did not prejudice the Revenue. Consequently, the ITAT directed the Assessing Officer to delete the penalty, aligning with the principle established in similar cases. en-us Fri, 19 May 2017 00:00:00 +0530 Fri, 09 Jun 2017 06:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344115 The ITAT ruled in favor of the appellant, deleting the penalty imposed under Section 271B read with Section 274 of the Income Tax Act for the assessment year 2013-14. The ITAT considered previous decisions where penalties were deleted due to technical issues beyond the assessee's control, emphasizing that the audit report aided assessment proceedings and did not prejudice the Revenue. Consequently, the ITAT directed the Assessing Officer to delete the penalty, aligning with the principle established in similar cases. Case-Laws Income Tax Fri, 19 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344115