https://www.taxtmi.com/caselaws?id=435121 The Tribunal allowed the appeal by the assessee, finding reasonable cause for not furnishing the audit report under section 44AB of the Income Tax Act. The penalty imposed under section 271B was deleted as the Tribunal acknowledged the failure to file the audit report despite the auditor signing reports under the Companies Act. The decision favored the assessee, emphasizing the impact of non-filing on carry-forward benefits and the lack of evidence authorizing the auditor for tax audit. en-us Wed, 25 Jan 2023 00:00:00 +0530 Mon, 13 Mar 2023 08:40:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435121 The Tribunal allowed the appeal by the assessee, finding reasonable cause for not furnishing the audit report under section 44AB of the Income Tax Act. The penalty imposed under section 271B was deleted as the Tribunal acknowledged the failure to file the audit report despite the auditor signing reports under the Companies Act. The decision favored the assessee, emphasizing the impact of non-filing on carry-forward benefits and the lack of evidence authorizing the auditor for tax audit. Case-Laws Income Tax Wed, 25 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435121