https://www.taxtmi.com/caselaws?id=307066 The Tribunal ruled in favor of the appellant, finding that the penalty under section 271B for belated filing of the audit report was unjustified. It was determined that the delay was due to health issues of a partner managing the firm, constituting a reasonable cause. Emphasizing the discretionary nature of penalty imposition and favoring justice over punishment for technical breaches without mala fide intentions, the Tribunal directed the Assessing Officer to delete the penalty, allowing the appeal. en-us Wed, 07 Sep 2022 00:00:00 +0530 Wed, 15 Mar 2023 21:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307066 The Tribunal ruled in favor of the appellant, finding that the penalty under section 271B for belated filing of the audit report was unjustified. It was determined that the delay was due to health issues of a partner managing the firm, constituting a reasonable cause. Emphasizing the discretionary nature of penalty imposition and favoring justice over punishment for technical breaches without mala fide intentions, the Tribunal directed the Assessing Officer to delete the penalty, allowing the appeal. Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307066