https://www.taxtmi.com/caselaws?id=309157 The Tribunal found in favor of the appellant, ruling that the delay in obtaining the audit report was due to factors beyond their control, specifically the late appointment of the statutory auditor by the Registrar of Cooperative Societies. As such, the penalty imposed under Section 271B by the AO and confirmed by the CIT(A) was deemed unjustified and ordered to be deleted. The appeal of the assessee was allowed, and the order was pronounced on 21/04/2023. en-us Fri, 21 Apr 2023 00:00:00 +0530 Sat, 12 Aug 2023 21:18:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309157 The Tribunal found in favor of the appellant, ruling that the delay in obtaining the audit report was due to factors beyond their control, specifically the late appointment of the statutory auditor by the Registrar of Cooperative Societies. As such, the penalty imposed under Section 271B by the AO and confirmed by the CIT(A) was deemed unjustified and ordered to be deleted. The appeal of the assessee was allowed, and the order was pronounced on 21/04/2023. Case-Laws Income Tax Fri, 21 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309157