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Informative

Penalty proceedings u/s 271B for late filing of audit report: ITAT sets aside Pr.CIT’s order for lack of jurisdiction

Update / Judgement Date

02 Apr 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Income Tax

ITAT set aside the Pr. CIT's order for penalty proceedings under Section 271B due to lack of jurisdiction. The tribunal's decision protects taxpayers from penalties imposed without proper legal authority. This ruling emphasizes the importance of jurisdictional compliance. ITAT’s ruling protects taxpayers. This decision is important for legal proceedings.