https://www.taxtmi.com/caselaws?id=438909 The Tribunal allowed the appeal of the assessee, engaged in the bakery business, against the penalty imposed under section 271B for delayed filing of tax audit reports. The delay was attributed to the sudden departure of the accountant responsible for accounts, beyond the assessee's control. Despite the penalty being upheld by the CIT(A), the Tribunal found the delay was not willful and that the assessee had a history of timely compliance. Relying on legal precedents, the Tribunal deemed the penalty unwarranted, directing the Assessing Officer to delete it. en-us Fri, 09 Jun 2023 00:00:00 +0530 Sun, 11 Jun 2023 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438909 The Tribunal allowed the appeal of the assessee, engaged in the bakery business, against the penalty imposed under section 271B for delayed filing of tax audit reports. The delay was attributed to the sudden departure of the accountant responsible for accounts, beyond the assessee's control. Despite the penalty being upheld by the CIT(A), the Tribunal found the delay was not willful and that the assessee had a history of timely compliance. Relying on legal precedents, the Tribunal deemed the penalty unwarranted, directing the Assessing Officer to delete it. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438909