Penalty u/s 271B Deleted for Delay in Audit Report Due to Managing Director’s Illness

Sahana Jewellery Exports Private Limited Vs ITO (ITAT Chennai)

Penalty u/s 271B Deleted for Delay in Audit Report Due to Managing Director’s Illness: ITAT Chennai Grants Relief

The Chennai Bench of the ITAT allowed the assessee’s appeal for AY 2016-17 and deleted the penalty of ₹1.50 lakh levied under Section 271B for delayed furnishing of audit report under Section 44AB. The assessee, a private limited company engaged in jewellery business, had filed its ta

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