https://www.taxtmi.com/caselaws?id=62601 The Tribunal ruled in favor of the appellant, finding no deliberate intent to evade submitting the audit report with the return. It determined that there was a reasonable cause for the initial failure, considering the subsequent submission and overall circumstances. As a result, the penalty under section 271B of the Income-tax Act, 1961 was canceled, with directions for the Assessing Officer to follow suit. en-us Fri, 14 Mar 1997 00:00:00 +0530 Thu, 20 Jan 2011 16:41:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62601 The Tribunal ruled in favor of the appellant, finding no deliberate intent to evade submitting the audit report with the return. It determined that there was a reasonable cause for the initial failure, considering the subsequent submission and overall circumstances. As a result, the penalty under section 271B of the Income-tax Act, 1961 was canceled, with directions for the Assessing Officer to follow suit. Case-Laws Income Tax Fri, 14 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62601