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Penalty for Late Audit Report Filing u/s 271B Removed Due to Bona Fide Belief and No Exchequer Loss.

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....Penalty levied u/s 271B - delay in furnishing audit report - bonafide belief - Delay in furnishing audit report has resulted only in technical venial breach which does not cause any loss to exchequer could be applied here also. - levy of penalty deleted.....

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