Penalty for not filing audit report upheld by Tribunal. No valid reason given by assessee.

Penalty for not filing audit report upheld by Tribunal. No valid reason given by assessee. https://www.taxtmi.com/highlights?id=80247 Penalty imposed u/s 271B for non-compliance with section 44AB audit report filing. Assessee failed to prove attending litigations or financial difficulties. Assessee filed audit reports for multiple years except one, indicating awareness of legal obligations. Lack of reasonable cause for non-compliance. Penalty upheld by Appellate Tribunal, dismissing assessee's appeal. en-us Thu, 08 Aug 2024 09:10:02 +0530 Thu, 08 Aug 2024 09:10:02 +0530 TaxTMI RSS Generator Penalty for not filing audit report upheld by Tribunal. No valid reason given by assessee. https://www.taxtmi.com/highlights?id=80247 Penalty imposed u/s 271B for non-compliance with section 44AB audit report filing. Assessee failed to prove attending litigations or financial difficulties. Assessee filed audit reports for multiple years except one, indicating awareness of legal obligations. Lack of reasonable cause for non-compliance. Penalty upheld by Appellate Tribunal, dismissing assessee's appeal. Highlights Income Tax Thu, 08 Aug 2024 09:10:02 +0530 https://www.taxtmi.com/highlights?id=80247