https://www.taxtmi.com/caselaws?id=438812 The Tribunal allowed the appeal of the assessee, revoking the penalty imposed under section 271B for the delayed filing of the tax audit report for the assessment year 2016-17. The penalty of Rs. 81,843 was set aside due to the financial hardship and legal dispute faced by the assessee, which constituted a valid reason for the delay in submission, in accordance with Section 273B of the Income Tax Act. en-us Fri, 26 May 2023 00:00:00 +0530 Fri, 09 Jun 2023 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438812 The Tribunal allowed the appeal of the assessee, revoking the penalty imposed under section 271B for the delayed filing of the tax audit report for the assessment year 2016-17. The penalty of Rs. 81,843 was set aside due to the financial hardship and legal dispute faced by the assessee, which constituted a valid reason for the delay in submission, in accordance with Section 273B of the Income Tax Act. Case-Laws Income Tax Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438812