https://www.taxtmi.com/caselaws?id=463215 The ITAT Surat held that the penalty order under section 271B for non-furnishing audit details under section 44AB was barred by limitation, as the order was passed after the prescribed period ending 30.06.2020. The tribunal ruled that the limitation period under section 275 cannot be extended due to practical difficulties faced by the AO. The existence of reasonable cause for delay is immaterial. Once the penalty proceedings become time-barred, they cannot be reinitiated. Consequently, the penalty order passed on 08.08.2021 was quashed, and the assessee's appeal was allowed. en-us Mon, 04 Sep 2023 00:00:00 +0530 Thu, 14 Aug 2025 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463215 The ITAT Surat held that the penalty order under section 271B for non-furnishing audit details under section 44AB was barred by limitation, as the order was passed after the prescribed period ending 30.06.2020. The tribunal ruled that the limitation period under section 275 cannot be extended due to practical difficulties faced by the AO. The existence of reasonable cause for delay is immaterial. Once the penalty proceedings become time-barred, they cannot be reinitiated. Consequently, the penalty order passed on 08.08.2021 was quashed, and the assessee's appeal was allowed. Case-Laws Income Tax Mon, 04 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463215