https://www.taxtmi.com/caselaws?id=435275 The Tribunal allowed the appeal, directing the Assessing Officer to delete the penalty levied under section 271B of the Income Tax Act, 1961. The decision was based on the reasoning that the delay in filing the tax audit report was due to reasonable causes and did not involve any mala fide intention on the part of the assessee. The Tribunal emphasized that technical breaches without malicious intent should not attract penalties under section 271B, aligning with previous judgments on similar issues. en-us Wed, 15 Feb 2023 00:00:00 +0530 Wed, 15 Mar 2023 21:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435275 The Tribunal allowed the appeal, directing the Assessing Officer to delete the penalty levied under section 271B of the Income Tax Act, 1961. The decision was based on the reasoning that the delay in filing the tax audit report was due to reasonable causes and did not involve any mala fide intention on the part of the assessee. The Tribunal emphasized that technical breaches without malicious intent should not attract penalties under section 271B, aligning with previous judgments on similar issues. Case-Laws Income Tax Wed, 15 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435275