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2006 (1) TMI 90 - HC - Income TaxAudit - "1. Whether, Tribunal was right in holding that no penalty is imposable under section 271B for non-compliance with the provisions of section 44AB on the ground that the returns were filed belatedly neither under section 139 nor on a notice under section 142? - 2. Whether, Tribunal was right in deleting the penalty without giving a finding of fact as to whether the tax audit report had been obtained within the prescribed time by the assessee?" - Accounts were audited and also the assessee got the audit report, but the same was filed along with the return which was filed belatedly. Hence, penalty cannot be imposed under section 271B - we find no error in the order of the Tribunal and hence no substantial questions of law arise for consideration of this court
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