https://www.taxtmi.com/caselaws?id=417370 The Tribunal canceled the penalty imposed under section 271B of the Income Tax Act for delayed filing of the audit report, citing that the delay was beyond the assessee's control and not intentional. The delay was attributed to search proceedings by the Department, affecting the availability of necessary documents for filing. The Tribunal found the explanations provided reasonable and undisputed, ultimately ruling in favor of the assessee and canceling the penalty. en-us Tue, 11 Jan 2022 00:00:00 +0530 Fri, 21 Jan 2022 08:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417370 The Tribunal canceled the penalty imposed under section 271B of the Income Tax Act for delayed filing of the audit report, citing that the delay was beyond the assessee's control and not intentional. The delay was attributed to search proceedings by the Department, affecting the availability of necessary documents for filing. The Tribunal found the explanations provided reasonable and undisputed, ultimately ruling in favor of the assessee and canceling the penalty. Case-Laws Income Tax Tue, 11 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417370