https://www.taxtmi.com/caselaws?id=61839 The Tribunal allowed the appeal, emphasizing the importance of considering "reasonable cause" before imposing penalties under section 271B. The penalty for failure to get accounts audited within the specified date was canceled due to the proven illness of the accountant, which hindered the timely audit process. The Tribunal highlighted the significance of the accountant's role and the lack of penalties for belated filing of the return, indicating a reasonable cause for the delay. en-us Wed, 30 Dec 1992 00:00:00 +0530 Sat, 15 Jan 2011 15:54:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61839 The Tribunal allowed the appeal, emphasizing the importance of considering "reasonable cause" before imposing penalties under section 271B. The penalty for failure to get accounts audited within the specified date was canceled due to the proven illness of the accountant, which hindered the timely audit process. The Tribunal highlighted the significance of the accountant's role and the lack of penalties for belated filing of the return, indicating a reasonable cause for the delay. Case-Laws Income Tax Wed, 30 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61839