https://www.taxtmi.com/caselaws?id=378060 The Tribunal ruled in favor of the Revenue, upholding the penalty order against the assessee for the assessment year 2009-10 under section 271B of the Income Tax Act, 1961. The Tribunal found that the penalty order was not time-barred as the turnover dispute in the quantum proceedings directly impacted the obligation to obtain and furnish the audit report under section 44AB, supporting the levy of penalty. The appeal was dismissed on February 27, 2019. en-us Wed, 27 Feb 2019 00:00:00 +0530 Sat, 06 Apr 2019 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378060 The Tribunal ruled in favor of the Revenue, upholding the penalty order against the assessee for the assessment year 2009-10 under section 271B of the Income Tax Act, 1961. The Tribunal found that the penalty order was not time-barred as the turnover dispute in the quantum proceedings directly impacted the obligation to obtain and furnish the audit report under section 44AB, supporting the levy of penalty. The appeal was dismissed on February 27, 2019. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378060