https://www.taxtmi.com/caselaws?id=437249 The Tribunal ruled in favor of the appellant, a Government company, in a case challenging a penalty under section 271B of the Income Tax Act for delayed filing of an audit report. The Tribunal held that the delay was a technical breach without mala fide intention, citing a precedent where a similar penalty was deleted. Consequently, the penalty was overturned, and the appeal was allowed. en-us Wed, 29 Mar 2023 00:00:00 +0530 Mon, 01 May 2023 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437249 The Tribunal ruled in favor of the appellant, a Government company, in a case challenging a penalty under section 271B of the Income Tax Act for delayed filing of an audit report. The Tribunal held that the delay was a technical breach without mala fide intention, citing a precedent where a similar penalty was deleted. Consequently, the penalty was overturned, and the appeal was allowed. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437249