https://www.taxtmi.com/caselaws?id=361772 The Tribunal ruled in favor of the appellant in an appeal against a penalty order under section 271B of the Income Tax Act, 1961. The Tribunal found that the penalty imposed for the delay in filing the audit report electronically was unwarranted due to the appellant's substantial compliance with the law and reasonable cause for the delay. Emphasizing the discretionary nature of penalties under section 271B, the Tribunal quashed the penalty, citing relevant case law and the CBDT circular relaxing electronic filing requirements. en-us Wed, 06 Jun 2018 00:00:00 +0530 Thu, 14 Jun 2018 07:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361772 The Tribunal ruled in favor of the appellant in an appeal against a penalty order under section 271B of the Income Tax Act, 1961. The Tribunal found that the penalty imposed for the delay in filing the audit report electronically was unwarranted due to the appellant's substantial compliance with the law and reasonable cause for the delay. Emphasizing the discretionary nature of penalties under section 271B, the Tribunal quashed the penalty, citing relevant case law and the CBDT circular relaxing electronic filing requirements. Case-Laws Income Tax Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361772