https://www.taxtmi.com/caselaws?id=388103 The tribunal allowed the appeals against penalties imposed under sections 271B and 271F of the Income Tax Act for the assessment year 2010-11. The penalty under section 271B for failure to audit accounts before the specified date was deemed not leviable as the non-filing was unintentional, with valid reasons presented by the assessee. Similarly, the penalty under section 271F for delayed filing of the income tax return was also held to be not leviable due to the inadvertent delay without any intention to evade tax. Consequently, both penalties were directed to be deleted. en-us Thu, 26 Sep 2019 00:00:00 +0530 Fri, 08 Nov 2019 08:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388103 The tribunal allowed the appeals against penalties imposed under sections 271B and 271F of the Income Tax Act for the assessment year 2010-11. The penalty under section 271B for failure to audit accounts before the specified date was deemed not leviable as the non-filing was unintentional, with valid reasons presented by the assessee. Similarly, the penalty under section 271F for delayed filing of the income tax return was also held to be not leviable due to the inadvertent delay without any intention to evade tax. Consequently, both penalties were directed to be deleted. Case-Laws Income Tax Thu, 26 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388103