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ITAT Cancels Audit Default Penalty Over Jurisdictional Defect
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ITAT Cancels Audit Default Penalty Over Jurisdictional Defect
ITAT Cancels Audit Default Penalty Over Jurisdictional Defect The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) has quashed a penalty imposed under Section 271B of the Income Tax Act, holding that the Assessing Officer (AO) failed to record any satisfaction in the assessment order regarding the alleged default, thereby invalidating the very initiation […]
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