Penalty for Late Audit Report Submission u/s 271B Overturned Due to Inadequate Verification by Assessing Officer.

Penalty for Late Audit Report Submission u/s 271B Overturned Due to Inadequate Verification by Assessing Officer. https://www.taxtmi.com/highlights?id=54364 Penalty u/s 271B - non-furnishing of the Audit Report before the specified date - As the AO has failed in his duty in verifying whether books of account were audited before the specified date and only emphasized on the fact of furnishing the audit before the specified date , we do not find any reason for confirming the penalty levied u/s 271B - AT en-us Mon, 17 Aug 2020 11:09:00 +0530 Mon, 17 Aug 2020 11:09:00 +0530 TaxTMI RSS Generator Penalty for Late Audit Report Submission u/s 271B Overturned Due to Inadequate Verification by Assessing Officer. https://www.taxtmi.com/highlights?id=54364 Penalty u/s 271B - non-furnishing of the Audit Report before the specified date - As the AO has failed in his duty in verifying whether books of account were audited before the specified date and only emphasized on the fact of furnishing the audit before the specified date , we do not find any reason for confirming the penalty levied u/s 271B - AT Highlights Income Tax Mon, 17 Aug 2020 11:09:00 +0530 https://www.taxtmi.com/highlights?id=54364