https://www.taxtmi.com/caselaws?id=278021 The appeal regarding disallowance under Section 40A(3) of the Income Tax Act was allowed for statistical purposes, necessitating a reassessment by the Assessing Officer. However, the appeal against the penalty under Section 271B was dismissed, upholding the penalty imposition. The tribunal found the penalty justified due to the history of delayed filings and lack of substantiated reasons. The order was issued on February 28, 2017, in Chennai. en-us Tue, 28 Feb 2017 00:00:00 +0530 Sat, 05 Jan 2019 06:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278021 The appeal regarding disallowance under Section 40A(3) of the Income Tax Act was allowed for statistical purposes, necessitating a reassessment by the Assessing Officer. However, the appeal against the penalty under Section 271B was dismissed, upholding the penalty imposition. The tribunal found the penalty justified due to the history of delayed filings and lack of substantiated reasons. The order was issued on February 28, 2017, in Chennai. Case-Laws Income Tax Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278021