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Income Tax Appellate Tribunal, COCHIN BENCH: COCHIN
Before: SHRI CHANDRA POOJARI & SHRI SOUNDARARAJAN K.
PER CHANDRA POOJARI, ACCOUNTANT MEMBER:
This appeal by assessee is directed against order of NFAC for the assessment year 2017-18 dated 22.2.2023, wherein he has confirmed the levy of penalty u/s 271B of the Income Tax Act, 1961 (in short “The Act”).
The ld. AO levied penalty u/s 271B of the Act for non-filing audit report within due date. The due date for filing the audit report was 30.9.2017. According to the assessee, it was filed on 17.2.2018 though the audit report got obtained on 30.9.2017.
The contention of the ld. A.R. is that due to technical glitch in the ITBA portal, assessee failed to upload the audit report in time, which is a technical breach which cannot be considered to levy penalty u/s 271B of the Act.