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2023 (3) TMI 661 - AT - Income TaxPenalty u/s 271B - assessee has not filed the tax audit report u/s 44AB before the due date - HELD THAT:- Respectfully following the case of Balaji Logistics v. ACIT [2022 (9) TMI 1432 - ITAT CHENNAI] for the assessment year 2015-16 when the Tax Audit Report was made available to the AO before completion of assessment proceedings, then for venial technical breach without any mala fide intention, penalty cannot be levied u/s.271B , thus we are of the considered opinion that it is not a fit case for the levy of penalty under section 271B of the Act and accordingly, the penalty levied stands deleted. As decided in P.Senthil Kumar v. PCIT [2019 (1) TMI 222 - MADRAS HIGH COURT] for venial technical breach without any mala fide intention, penalty cannot be levied. Decided in favour of assessee.
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