No section 271B penalty when Tax Audit Report uploaded but ITR-V not verified

Jayaraj Charles Vs ITO (ITAT Chennai)

Introduction: The Jayaraj Charles Vs ITO case, adjudicated by ITAT Chennai, delves into the imposition of penalties under section 271B of the Income Tax Act. This particular case centres on the penalty confirmation for the Assessment Year (AY) 2017-18 due to the alleged failure of the assessee to upload a Tax Audit Report within the prescribed timeframe.

Analysis: The case evolved from the allegation that the assessee failed to upload the Tax Audi

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