S. 271B No penalty for non-furnishing of audit report within due date if same was obtained before due date

Mr Prem Prakash Senapati Vs ITO (ITAT Cuttack) CBDT Circular No.03/2009 dated 21.5.2009 provides as under: “”7. Following clarifications are also issued in respect of certain issues arising from furnishing the returns in the above-mentioned forms: (i) An assessee should obtain the report of audit from an accountant under section 44AB of the Act on or before the due date of the furnishing of the return and should fill out the relevant columns of the returns forms on the basis of such report. However, the report of audit should not be attached with the return or furnished separately any time...