https://www.taxtmi.com/caselaws?id=439064 The penalty under section 271B of the Income Tax Act was confirmed against the appellant, a primary agricultural credit society, for failure to furnish the audit report as required under section 44AB. Despite being unable to provide a valid reason for non-compliance, the appellant's appeal against the penalty was dismissed. The Tribunal found no grounds to exempt the appellant from the penalty, upholding the decision and dismissing the appeal along with the stay petition filed by the appellant. en-us Fri, 28 Apr 2023 00:00:00 +0530 Fri, 16 Jun 2023 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439064 The penalty under section 271B of the Income Tax Act was confirmed against the appellant, a primary agricultural credit society, for failure to furnish the audit report as required under section 44AB. Despite being unable to provide a valid reason for non-compliance, the appellant's appeal against the penalty was dismissed. The Tribunal found no grounds to exempt the appellant from the penalty, upholding the decision and dismissing the appeal along with the stay petition filed by the appellant. Case-Laws Income Tax Fri, 28 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439064