https://www.taxtmi.com/caselaws?id=441240 The appeal challenging the penalty under section 271B of the Income Tax Act, 1961 imposed by the National Faceless Appeal Centre for Assessment Year 2017-18 was dismissed. The appellant, a cooperative bank, failed to provide a valid explanation or reasonable cause for the delay in filing the Tax Audit Report (TAR) and the statutory audit report. The Tribunal found the appellant's explanations insufficient, leading to the confirmation of the penalty under section 271B. en-us Mon, 31 Jul 2023 00:00:00 +0530 Fri, 04 Aug 2023 07:49:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441240 The appeal challenging the penalty under section 271B of the Income Tax Act, 1961 imposed by the National Faceless Appeal Centre for Assessment Year 2017-18 was dismissed. The appellant, a cooperative bank, failed to provide a valid explanation or reasonable cause for the delay in filing the Tax Audit Report (TAR) and the statutory audit report. The Tribunal found the appellant's explanations insufficient, leading to the confirmation of the penalty under section 271B. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441240