https://www.taxtmi.com/caselaws?id=35202 The appeal against the penalty imposed under Section 271-B of the Income Tax Act for late filing of audit reports was dismissed. The court upheld the penalty, emphasizing the importance of complying with statutory deadlines and regulations. The appellant's argument regarding the initiation of penalty during assessment proceedings and reliance on case law were not accepted. Additionally, the court affirmed the penalty imposed for obtaining the Tax Audit Report after the due date, emphasizing adherence to procedural requirements under Section 44-AB. The appeal by the appellant-assessee was ultimately dismissed. en-us Mon, 14 Dec 2009 00:00:00 +0530 Sun, 02 May 2010 22:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35202 The appeal against the penalty imposed under Section 271-B of the Income Tax Act for late filing of audit reports was dismissed. The court upheld the penalty, emphasizing the importance of complying with statutory deadlines and regulations. The appellant's argument regarding the initiation of penalty during assessment proceedings and reliance on case law were not accepted. Additionally, the court affirmed the penalty imposed for obtaining the Tax Audit Report after the due date, emphasizing adherence to procedural requirements under Section 44-AB. The appeal by the appellant-assessee was ultimately dismissed. Case-Laws Income Tax Mon, 14 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35202