Delay in Filing Audit Report due to Dispute Between Director of Company is Mere Technical Breach and not Malafide Intention: ITAT Deletes Penalty u/s 271 B of Income Tax Act [Read Order]

By Ipsita Das - On July 16, 2023 6:00 am - 2 mins read
Delay - Filling Audit Report - Dispute - Director of company - Technical breach - taxscan

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that the Tax Audit Report was made available to Assessing Officer before completion of assessment proceedings. Therefore, delay in Filing Audit Report due to Dispute Between Director of Company is just a technical breach without any malafide intention of the assessee, consequently, the penalty under…

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