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TMI Blog2024 (11) TMI 1262X X X X Extracts X X X X X X X X Extracts X X X X ..... letion of assessment. Hence the tax audit report was indeed made available before the completion of assessment before the Learned AO. We hold that the tax audit report is only meant for providing guidance to the Learned AO to understand the various compliances made by the assessee under various provisions of the Act. Since the Tax Audit Report was indeed made available before the Learned AO by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d to as ld. PCIT , in short] in Appeal No. ITBA/REV/F/REV5/2023- 24/1063273290(1) dated 23.03.2024 against the order of assessment passed u/s 143(3) r.w.s. 144B of the Income-tax Act, 1961 (hereinafter referred to as the Act ) dated 19.04.2021 by the Assessing Officer, National e-Assessment, Delhi (hereinafter referred to as ld. AO ). 2. The only effective issue to be decided in this appeal is as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee under various provisions of the Act. Since the Tax Audit Report was indeed made available before the Learned AO by the assessee before the completion of assessment proceedings, the larger purpose of provisions of Section 44 AB read with Section 139 of the Act stood complied with and there is no need to levy penalty under Section 271B of the Act. In fact, similar issue was subject matter of ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he condition prescribed in Section 80J of the Act that Audit Report shall be filed along with the return of income had to be construed as directory in nature. Drawing analogy from the said decision and applying to the facts of the instant case, we hold that this is not a fit case for levy of penalty under Section 271B of the Act. Hence, the Learned PCIT was not justified in invoking revision juris ..... X X X X Extracts X X X X X X X X Extracts X X X X
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