https://www.taxtmi.com/caselaws?id=753930 The ITAT Delhi set aside penalty orders totaling Rs. 150,000 imposed under section 271B for failure to submit audit report under section 44AB within the stipulated timeframe. The Tribunal held that the penalty orders were incompetent and nullified because they lacked the mandatory prior approval from the Joint Commissioner. The Income Tax Officer failed to indicate in the penalty order that requisite approval was obtained before passing the order. Following the precedent in SAGAR DUTTA case, the Tribunal ruled that such orders are nullities and can be challenged at any stage. The assessee's appeal was allowed, with liberty granted to revenue to approach the Tribunal if prior approval evidence is subsequently produced. en-us Tue, 11 Jun 2024 00:00:00 +0530 Wed, 12 Jun 2024 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753930 The ITAT Delhi set aside penalty orders totaling Rs. 150,000 imposed under section 271B for failure to submit audit report under section 44AB within the stipulated timeframe. The Tribunal held that the penalty orders were incompetent and nullified because they lacked the mandatory prior approval from the Joint Commissioner. The Income Tax Officer failed to indicate in the penalty order that requisite approval was obtained before passing the order. Following the precedent in SAGAR DUTTA case, the Tribunal ruled that such orders are nullities and can be challenged at any stage. The assessee's appeal was allowed, with liberty granted to revenue to approach the Tribunal if prior approval evidence is subsequently produced. Case-Laws Income Tax Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753930