Tribunal held that the Notification Issued By The Central Board Of Direct Taxes Dated MAY. 1, 2013 Clearly States That The Assessee Was Required To File The Audit Report Along With The Return From The Assessment Year 2013-14 Onwards. Therefore, it was possible that the assessee may have a view that prior to the date he was not required to file the audit reprt along with the return but obtain tax audit report prior to due date of filing of Registrar of companies. Accordingly the levy of penalty is held to be not justified . ( AY.2012-13)
Arvind Kumar Arora v. ITO (2020)82 ITR 28 (SN) (Delhi) (Trib)
S. 271B :Penalty- Failure to get accounts audited -Reasonable cause – May – Levy of penalty is held go be not justified .