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2023 (8) TMI 642 - ITAT RAIPURPenalty u/s. 271B - delay in completion and submission of the Tax Audit Report as required u/s. 44AB - HELD THAT:- On perusal of the documents submitted before us, it is apparent that the statutory audit as well as tax audit of assessee society was completed after the due date prescribed for filing of Audit Report. Even the Tax Auditor was appointed by the regulatory body after the due date prescribed, therefore, there was sufficient cause for delay in completion and submission of the Tax Audit Report as required u/s. 44AB of the Act. We, considered that penalty levied by the AO u/s. 271B on account of not getting the accounts audited within the specified due date and confirming by the Ld.CIT(A), deserves to be deleted. Resultantly the appeal of the assessee is allowed.
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