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Reasonable cause under section 273B precludes penalty for delayed furnishing of a tax audit report where the taxpayer establishes a justified explanation. Illness, specifically viral fever, was accepted as a reasonable cause for delay despite the absence of supporting medical evidence, because the Revenue produced no material rebutting the explanation. Consequently, penalty under section 271B was not leviable, the order confirming it was set aside, and the taxpayer's appeal succeeded.
Reasonable cause under section 273B precludes penalty for delayed furnishing of a tax audit report where the taxpayer establishes a justified explanation. Illness, specifically viral fever, was accepted as a reasonable cause for delay despite the absence of supporting medical evidence, because the Revenue produced no material rebutting the explanation. Consequently, penalty under section 271B was not leviable, the order confirming it was set aside, and the taxpayer's appeal succeeded.
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TaxTMI 
TaxTMI 
