https://www.taxtmi.com/highlights?id=53775 Penalty levied u/s. 271B - Defective notice - vague and unspecific notice - failure to furnish the audit report u/s 44AB before the due date - Notice proposing penalty should clearly spell out the fault/charge for which the assessee is put on notice, so that he can defend the charge properly. - Further, the explanation given by the assessee cannot be held to be unreasonable. - No penalty since the delay in getting accounts of the earlier year can be reasonable ground as stipulated u/s. 273B en-us Sat, 20 Jun 2020 07:44:40 +0530 Sat, 20 Jun 2020 07:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53775 Penalty levied u/s. 271B - Defective notice - vague and unspecific notice - failure to furnish the audit report u/s 44AB before the due date - Notice proposing penalty should clearly spell out the fault/charge for which the assessee is put on notice, so that he can defend the charge properly. - Further, the explanation given by the assessee cannot be held to be unreasonable. - No penalty since the delay in getting accounts of the earlier year can be reasonable ground as stipulated u/s. 273B Highlights Income Tax Sat, 20 Jun 2020 07:44:40 +0530 https://www.taxtmi.com/highlights?id=53775