18 December 2019
One of my assessee has filed Income Tax Return for A.Y. 2017-2018 after obtaining Tax Audit Report. But Audit Report not updated on Income Tax Portal. Now assessing authority is insisting on Penalty U/s271B for non-submission of Audit Report. Kindly give me suggestions to avoid Penalty U/s 271B and also give me recent case laws in favour of assessee in this regard.