https://www.taxtmi.com/caselaws?id=407194 The ITAT ruled in favor of the appellant, setting aside the penalty imposed under section 271B for delayed filing of the Tax audit report. The decision emphasized genuine reasons for the delay, attributing it to technical challenges and workload pressures faced by the Chartered Accountants firm. The ITAT found the delay reasonable and not intentional, directing the AO to cancel the penalty due to the absence of deliberate misconduct. en-us Tue, 20 Apr 2021 00:00:00 +0530 Mon, 03 May 2021 08:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407194 The ITAT ruled in favor of the appellant, setting aside the penalty imposed under section 271B for delayed filing of the Tax audit report. The decision emphasized genuine reasons for the delay, attributing it to technical challenges and workload pressures faced by the Chartered Accountants firm. The ITAT found the delay reasonable and not intentional, directing the AO to cancel the penalty due to the absence of deliberate misconduct. Case-Laws Income Tax Tue, 20 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407194