Penalty u/s 271B - tax audit report could not be filed on time - ...
Income Tax
July 31, 2023
Penalty u/s 271B - tax audit report could not be filed on time - when the loss return has been accepted by the Revenue and the audit report filed belatedly was available with the AO during the assessment proceedings, we are of the view that no adverse inference can be drawn against the assessee for not filing the audit report within the prescribed time. - AT
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