https://www.taxtmi.com/caselaws?id=391011 The High Court upheld the penalty imposed under Section 271B of the Income Tax Act, 1961, for failure to furnish the audited report in Form No.3CA as required under Section 44AB. The appellant's argument regarding compliance with the Co-operative Societies Act was dismissed, emphasizing the mandatory nature of filing the prescribed form. The Court emphasized strict adherence to statutory requirements and rejected contentions based on circulars or lack of reasonable cause for non-compliance. The appeal was dismissed, emphasizing the importance of complying with the Income Tax Act's provisions to avoid penalty imposition. en-us Tue, 07 Jan 2020 00:00:00 +0530 Wed, 19 Aug 2020 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391011 The High Court upheld the penalty imposed under Section 271B of the Income Tax Act, 1961, for failure to furnish the audited report in Form No.3CA as required under Section 44AB. The appellant's argument regarding compliance with the Co-operative Societies Act was dismissed, emphasizing the mandatory nature of filing the prescribed form. The Court emphasized strict adherence to statutory requirements and rejected contentions based on circulars or lack of reasonable cause for non-compliance. The appeal was dismissed, emphasizing the importance of complying with the Income Tax Act's provisions to avoid penalty imposition. Case-Laws Income Tax Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391011