https://www.taxtmi.com/caselaws?id=779904 ITAT, Hyd. held that penalty under s.271B for failure to furnish audit report u/s.44AB was null and void because the firm did not exist in the relevant assessment year. Relying on a Coordinate Bench decision in the appellant's own case holding that assessment and penalty proceedings cannot be initiated where the firm was non-existent, the Tribunal quashed the penalty and allowed the assessee's appeal. en-us Wed, 08 Oct 2025 00:00:00 +0530 Wed, 15 Oct 2025 08:27:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779904 ITAT, Hyd. held that penalty under s.271B for failure to furnish audit report u/s.44AB was null and void because the firm did not exist in the relevant assessment year. Relying on a Coordinate Bench decision in the appellant's own case holding that assessment and penalty proceedings cannot be initiated where the firm was non-existent, the Tribunal quashed the penalty and allowed the assessee's appeal. Case-Laws Income Tax Wed, 08 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779904