https://www.taxtmi.com/caselaws?id=60886 The Tribunal concluded that penalties under Section 271B were not warranted in both cases as the returns were filed under Section 139(4), exempting them from Section 271B. Both assessees complied with Section 44AB by obtaining audit reports before the deadline. Penalty proceedings against M/s Aggarwal Agricultural Industries were deemed time-barred under Section 275(1)(c). Consequently, the penalties were revoked, and both appeals were successful. en-us Mon, 10 Oct 1994 00:00:00 +0530 Sat, 08 Jan 2011 14:22:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60886 The Tribunal concluded that penalties under Section 271B were not warranted in both cases as the returns were filed under Section 139(4), exempting them from Section 271B. Both assessees complied with Section 44AB by obtaining audit reports before the deadline. Penalty proceedings against M/s Aggarwal Agricultural Industries were deemed time-barred under Section 275(1)(c). Consequently, the penalties were revoked, and both appeals were successful. Case-Laws Income Tax Mon, 10 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60886