https://www.taxtmi.com/caselaws?id=55092 The Tribunal allowed the appeal of a cooperative society against the penalty imposed under section 271B of the Income Tax Act for a delay in filing the audit report. The delay was due to the appointment of a special auditor by the Registrar of Cooperative Societies. The Tribunal held that penalties should not be imposed for technical breaches and canceled the penalty, emphasizing that the delay was not the fault of the assessee. The cooperative society demonstrated proper care in complying with statutory provisions, leading to the cancellation of the penalty. en-us Thu, 12 Oct 2000 00:00:00 +0530 Tue, 23 Nov 2010 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55092 The Tribunal allowed the appeal of a cooperative society against the penalty imposed under section 271B of the Income Tax Act for a delay in filing the audit report. The delay was due to the appointment of a special auditor by the Registrar of Cooperative Societies. The Tribunal held that penalties should not be imposed for technical breaches and canceled the penalty, emphasizing that the delay was not the fault of the assessee. The cooperative society demonstrated proper care in complying with statutory provisions, leading to the cancellation of the penalty. Case-Laws Income Tax Thu, 12 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55092