No Section 271B Penalty for Technical Breach Without Malafide Intent

Chinnayellappa Chandrashekar Vs ITO (ITAT Bangalore)

When the tax audit report was made available to AO before completion of the assessment proceedings, then for technical venial breach without any malafide intention, penalty cannot be levied u/s 271B of the Act.

In a recent ruling by the Income Tax Appellate Tri

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