https://www.taxtmi.com/caselaws?id=63073 The Tribunal allowed the appeal, canceling the penalty imposed on the private limited company for the late filing of the income tax return for the assessment year 1969-70. The Tribunal considered the delayed completion of the audit as a reasonable cause for the delay, criticizing the Appellate Assistant Commissioner's handling of the explanation. It found the labor trouble faced by the company to be insignificant in contributing to the delay and concluded that the audit delay was a plausible reason for the late filing, leading to the cancellation of the penalty. en-us Mon, 28 Feb 1977 00:00:00 +0530 Thu, 27 Jan 2011 17:22:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63073 The Tribunal allowed the appeal, canceling the penalty imposed on the private limited company for the late filing of the income tax return for the assessment year 1969-70. The Tribunal considered the delayed completion of the audit as a reasonable cause for the delay, criticizing the Appellate Assistant Commissioner's handling of the explanation. It found the labor trouble faced by the company to be insignificant in contributing to the delay and concluded that the audit delay was a plausible reason for the late filing, leading to the cancellation of the penalty. Case-Laws Income Tax Mon, 28 Feb 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63073