https://www.taxtmi.com/caselaws?id=70978 The Tribunal allowed the appeal, canceling the penalty imposed under section 271B for failure to file the audit report under section 44AB within the stipulated time. It was determined that the penalty was not lawfully levied as the audit report was ready before the due date, and the return was not filed on time. The Tribunal clarified that the penalty under section 271B is applicable only for non-compliance with the provisions of section 44AB and not for delays in payment of self-assessed tax. The partner's illness and subsequent death were considered reasonable causes for the delay in filing the audit report. en-us Fri, 31 Jul 1992 00:00:00 +0530 Wed, 20 Apr 2011 14:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70978 The Tribunal allowed the appeal, canceling the penalty imposed under section 271B for failure to file the audit report under section 44AB within the stipulated time. It was determined that the penalty was not lawfully levied as the audit report was ready before the due date, and the return was not filed on time. The Tribunal clarified that the penalty under section 271B is applicable only for non-compliance with the provisions of section 44AB and not for delays in payment of self-assessed tax. The partner's illness and subsequent death were considered reasonable causes for the delay in filing the audit report. Case-Laws Income Tax Fri, 31 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70978